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ts:Officers ts:Directors ts:Subsidiaries P5Y 0 Tenaris applies the exception regarding the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes 0 0 LU LU TS TS FY 2025 false 0001190723 --12-31 true true true true true true false Tenaris SA 20-F false true 2025-12-31 false false 001-31518 N4 26, Boulevard Royal - 4th Floor L-2449 Luxembourg Marcos Basaldella 26, Boulevard Royal - 4th Floor L-2449 Luxembourg 352 26 47 89 78 American Depositary Shares NYSE Ordinary Shares, par value $1.00 per share NYSE 1071994930 60170972 Yes No Yes Yes Large Accelerated Filer false true false International Financial Reporting Standards false <div style="margin: 2pt 0pt 0pt; break-after: avoid; break-inside: avoid; line-height: 1.2;"><a href="#TOC" id="Bw1_242202621956746" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #666666; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Recovery of Erroneously Awarded Compensation</span></a></div> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In 2023, the Company’s board of directors approved the Clawback Policy, in response to the requirements of Section 303A.14 of the New York Stock Exchange Listed Company Manual, setting forth the principles for the prompt recovery or “clawback” of erroneously awarded incentive-based compensation granted to certain officers of the Company in the event of a restatement of the Company’s financial statements, as further described therein. The members of senior management listed in the section “Information on the Company - Directors, Senior Management and Employees - Senior Management”, as well as Mr. Stefano Bassi, the Company’s global reporting senior director, are subject to the Clawback Policy.</span></p> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During the fiscal year ended December 31, 2025, the Company was not required to prepare an accounting restatement requiring recovery of erroneously awarded compensation pursuant to the Clawback Policy nor was there any outstanding balance as of the end of the year ended December 31, 2025, of erroneously awarded compensation to be recovered under the Clawback Policy.</span></p> <div style="margin: 0pt 0pt 12pt; page-break-after: avoid;"><a href="#TOC" id="BJKB533_2422026221619768" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">Cybersecurity</span></a></div> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">Risk Management, Strategy and Governance</span></p> <p style="margin: 0pt;"><br/></p> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;"><span id="fs_BCJ8WIBBKG00000000000000000000FM">Under the Company’s articles of association, as supplemented by the audit committee’s charter, the audit committee assists the board of directors in fulfilling its oversight responsibilities relating to the effectiveness of the Company’s systems of internal control, risk management and internal audit over financial reporting. <span style="border-right: none; border-left: none;"><span id="fs_3MX6SU4SO000000000000000000000FM"><span style="border-left: none; border-right: none;"><span id="fs_4XSWC9JNI800000000000000000000FM">In addition, the Company has established a management-level Critical Risk Committee (“CRC”) that assists the Company’s board of directors, the audit committee and the chief executive officer in connection with the monitoring, assessment and review of risks to which Tenaris is exposed and in the oversight of the risk management framework and processes, with a focus on critical risks (including accidents, cybersecurity and obsolescence, commercial execution, environmental, health and safety, and regulatory risks), the development of mitigating actions and the monitoring of action plans.</span></span> The CRC, which comprises several senior executives, the risk assurance manager and the general counsel, periodically reports to the Company’s board of directors, the audit committee and the chief executive officer on its activities. For more information on the audit committee and CRC, see “Risk Factors - Risks Relating to Our Business and Industry - Cyberattacks could have a material adverse impact on our business and results of operations”.</span></span></span></span></span></p> <p style="margin: 10pt 0pt 0pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">In particular, with respect to cybersecurity risks, Tenaris has adopted a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">“Cybersecurity Risk Management Methodology</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">”, which sets forth a procedure to monitor, identify, communicate, assess the impact and likelihood and report actual or potential risks affecting Tenaris’s information systems, including platform, networking and systems vulnerabilities, processes, and sensitive information leaks or losses. The objective of our Cybersecurity Risk Management Methodology is to reduce, accept, transfer, or avoid the effects of such risks thereby reducing accidents, harm, losses, disruption to services, or other negative impacts. <span id="fs_CE7GUZTKN400000000000000000000FM"><span style="-sec-ix-hidden:Tag1387">Our risk assessment methodology considers the potential impact of cybersecurity risks with respect to continuity of operations, information security (including confidentiality, integrity and availability),</span> financial performance, compliance or reputational effects, and health, safety and environment damages.</span> In addition, the adopted methodology considers the probability of occurrence of each event based on factors that vary according to specific risks. A Cybersecurity Risk Catalog is used to register detected risks, document risk assessments, and adopt appropriate action plans and reporting measures. If deemed appropriate (for example, when specific knowledge is required) <span style="-sec-ix-hidden:Tag1386">specialized consultants may be engaged in connection with cybersecurity risk processes.</span></span></p> <p style="margin: 10pt 0pt 0pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="-sec-ix-hidden:Tag1385">Tenaris has adopted certain other cybersecurity procedures that complement the above-mentioned Cybersecurity Risk Management Methodology and seek to effectively manage cybersecurity incidents by analyzing potential impacts, containing the attack, eradicating the threat, and recovering from the incident; instructing users of Tenaris’s information systems on how to respond to cybersecurity incidents involving or affecting Tenaris IT resources or devices through which users may access any Tenaris’s IT systems; and providing instructions and best practices to Tenaris’s personnel with system administrator roles in connection with cybersecurity incident prevention, detection and response.</span> </span></p> <p style="margin: 10pt 0pt 0pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">Tenaris has also adopted a “Ransomware Crisis Management Procedure” setting forth the procedure to timely and adequately respond to a ransomware incident. In addition, because a cybersecurity incident may escalate into a major company crisis, “Tenaris’s Crisis Management Procedure” is triggered and applied when certain events signal potential material impacts.</span></p> <div id="fs_JSND0UMHFK00000000000000000000B"> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <div> <div style="margin: 0pt 0pt 12pt; page-break-after: avoid;"> <div> <div id="fs_D29B3KYHZK00000000000000000000B"> <div> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <div> <div style="margin: 0pt 0pt 12pt; page-break-after: avoid;"> <div> <p style="margin: 10pt 0pt 0pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="-sec-ix-hidden:Tag1383">Tenaris’s policies, processes and procedures established to detect and manage cybersecurity risks are monitored and coordinated by a team of experienced and recognized professionals, including</span> <span id="fs_Z0KSWP4O5C00000000000000000000FM">a chief information security officer, a cybersecurity risk management director and a cybersecurity and security architecture director, with an average of more than 25 years of experience in the cybersecurity and information technology fields.</span> <span style="-sec-ix-hidden:Tag1384">The chief information security officer periodically reports on their activities to the CRC.</span></span></p> </div> </div> </div> </div> </div> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="-sec-ix-hidden:Tag1388">During 2025, no risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, or third-party cybersecurity incidents, led to known breaches of our business-critical IT systems and, as such, have not materially affected, and are not reasonably likely to materially affect, Tenaris, including its business strategy, results of operations, or financial condition.</span> </span></p> <p style="margin: 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span></p> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_7MNBELIXKG00000000000000000000FM">Tenaris has integrated cyber-resilience standards into its cybersecurity strategy and operational capabilities. In 2025, the Company conducted its annual Red Team / Blue Team exercise, simulating real-world attack scenarios to evaluate preparedness and validate detection and response mechanisms. The exercise successfully met its objectives by testing protection, defense and incident response processes, and demonstrated strong cross-team collaboration.</span></span></p> </div> </div> </div> </div> </div> </div> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">For more information on cybersecurity risks, see “Risk Factors - Risks Relating to Our Business and Industry - Cyberattacks could have a material adverse impact on our business and results of operations”.</span></p> Under the Company’s articles of association, as supplemented by the audit committee’s charter, the audit committee assists the board of directors in fulfilling its oversight responsibilities relating to the effectiveness of the Company’s systems of internal control, risk management and internal audit over financial reporting. <span style="border-right: none; border-left: none;"><span id="fs_3MX6SU4SO000000000000000000000FM"><span style="border-left: none; border-right: none;"><span id="fs_4XSWC9JNI800000000000000000000FM">In addition, the Company has established a management-level Critical Risk Committee (“CRC”) that assists the Company’s board of directors, the audit committee and the chief executive officer in connection with the monitoring, assessment and review of risks to which Tenaris is exposed and in the oversight of the risk management framework and processes, with a focus on critical risks (including accidents, cybersecurity and obsolescence, commercial execution, environmental, health and safety, and regulatory risks), the development of mitigating actions and the monitoring of action plans.</span></span> The CRC, which comprises several senior executives, the risk assurance manager and the general counsel, periodically reports to the Company’s board of directors, the audit committee and the chief executive officer on its activities. For more information on the audit committee and CRC, see “Risk Factors - Risks Relating to Our Business and Industry - Cyberattacks could have a material adverse impact on our business and results of operations”.</span></span> <span style="border-left: none; border-right: none;"><span id="fs_4XSWC9JNI800000000000000000000FM">In addition, the Company has established a management-level Critical Risk Committee (“CRC”) that assists the Company’s board of directors, the audit committee and the chief executive officer in connection with the monitoring, assessment and review of risks to which Tenaris is exposed and in the oversight of the risk management framework and processes, with a focus on critical risks (including accidents, cybersecurity and obsolescence, commercial execution, environmental, health and safety, and regulatory risks), the development of mitigating actions and the monitoring of action plans.</span></span> The CRC, which comprises several senior executives, the risk assurance manager and the general counsel, periodically reports to the Company’s board of directors, the audit committee and the chief executive officer on its activities. For more information on the audit committee and CRC, see “Risk Factors - Risks Relating to Our Business and Industry - Cyberattacks could have a material adverse impact on our business and results of operations”. In addition, the Company has established a management-level Critical Risk Committee (“CRC”) that assists the Company’s board of directors, the audit committee and the chief executive officer in connection with the monitoring, assessment and review of risks to which Tenaris is exposed and in the oversight of the risk management framework and processes, with a focus on critical risks (including accidents, cybersecurity and obsolescence, commercial execution, environmental, health and safety, and regulatory risks), the development of mitigating actions and the monitoring of action plans. <span style="-sec-ix-hidden:Tag1387">Our risk assessment methodology considers the potential impact of cybersecurity risks with respect to continuity of operations, information security (including confidentiality, integrity and availability),</span> financial performance, compliance or reputational effects, and health, safety and environment damages. <div style="font-family: 'times new roman', times; font-size: 10pt;"> <div> <div style="margin: 0pt 0pt 12pt; page-break-after: avoid;"> <div> <div id="fs_D29B3KYHZK00000000000000000000B"> <div> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <div> <div style="margin: 0pt 0pt 12pt; page-break-after: avoid;"> <div> <p style="margin: 10pt 0pt 0pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="-sec-ix-hidden:Tag1383">Tenaris’s policies, processes and procedures established to detect and manage cybersecurity risks are monitored and coordinated by a team of experienced and recognized professionals, including</span> <span id="fs_Z0KSWP4O5C00000000000000000000FM">a chief information security officer, a cybersecurity risk management director and a cybersecurity and security architecture director, with an average of more than 25 years of experience in the cybersecurity and information technology fields.</span> <span style="-sec-ix-hidden:Tag1384">The chief information security officer periodically reports on their activities to the CRC.</span></span></p> </div> </div> </div> </div> </div> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="-sec-ix-hidden:Tag1388">During 2025, no risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, or third-party cybersecurity incidents, led to known breaches of our business-critical IT systems and, as such, have not materially affected, and are not reasonably likely to materially affect, Tenaris, including its business strategy, results of operations, or financial condition.</span> </span></p> <p style="margin: 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span></p> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_7MNBELIXKG00000000000000000000FM">Tenaris has integrated cyber-resilience standards into its cybersecurity strategy and operational capabilities. In 2025, the Company conducted its annual Red Team / Blue Team exercise, simulating real-world attack scenarios to evaluate preparedness and validate detection and response mechanisms. The exercise successfully met its objectives by testing protection, defense and incident response processes, and demonstrated strong cross-team collaboration.</span></span></p> </div> </div> </div> </div> </div> <div> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <div> <div style="margin: 0pt 0pt 12pt; page-break-after: avoid;"> <div> <p style="margin: 10pt 0pt 0pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="-sec-ix-hidden:Tag1383">Tenaris’s policies, processes and procedures established to detect and manage cybersecurity risks are monitored and coordinated by a team of experienced and recognized professionals, including</span> <span id="fs_Z0KSWP4O5C00000000000000000000FM">a chief information security officer, a cybersecurity risk management director and a cybersecurity and security architecture director, with an average of more than 25 years of experience in the cybersecurity and information technology fields.</span> <span style="-sec-ix-hidden:Tag1384">The chief information security officer periodically reports on their activities to the CRC.</span></span></p> </div> </div> </div> </div> </div> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="-sec-ix-hidden:Tag1388">During 2025, no risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, or third-party cybersecurity incidents, led to known breaches of our business-critical IT systems and, as such, have not materially affected, and are not reasonably likely to materially affect, Tenaris, including its business strategy, results of operations, or financial condition.</span> </span></p> <p style="margin: 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span></p> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_7MNBELIXKG00000000000000000000FM">Tenaris has integrated cyber-resilience standards into its cybersecurity strategy and operational capabilities. In 2025, the Company conducted its annual Red Team / Blue Team exercise, simulating real-world attack scenarios to evaluate preparedness and validate detection and response mechanisms. The exercise successfully met its objectives by testing protection, defense and incident response processes, and demonstrated strong cross-team collaboration.</span></span></p> a chief information security officer, a cybersecurity risk management director and a cybersecurity and security architecture director, with an average of more than 25 years of experience in the cybersecurity and information technology fields. Tenaris has integrated cyber-resilience standards into its cybersecurity strategy and operational capabilities. In 2025, the Company conducted its annual Red Team / Blue Team exercise, simulating real-world attack scenarios to evaluate preparedness and validate detection and response mechanisms. 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900361000 757786000 636511000 31120000 5862000 18967000 1143000 3772000 1362319000 1439589000 213739000 66918000 68574000 51492000 655471000 1870666000 1723677000 772585000 1999427000 1931747000 -2477832000 -2399429000 -1125007000 -70855000 -930368000 583549000 -39400000 30300000 -16700000 660798000 1616597000 1091433000 17499000 25431000 58385000 -70855000 -930368000 583549000 572444000 660798000 1616597000 572647000 675256000 1637821000 203000 14458000 21224000 572444000 660798000 1616597000 <div> <p style="margin: 0pt; line-height: 1.2;"><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">I.</span> <span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">GENERAL INFORMATION</span></p> </div> <div style="line-height: 1.2;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris S.A. (the “Company”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">) was established as a public limited liability company (</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">oci</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">é</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">té </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">nonyme</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">) under the laws of the Grand-Duchy of Luxembourg on December 17, 2001. The Company holds, either directly or indirectly, controlling interests in various subsidiaries in the steel pipe manufacturing and distribution businesses. References in these Consolidated Financial Statements to “Tenaris” refer to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and its consolidated subsidiaries. A list of the Company’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">principal </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">subsidiaries is included </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ote</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">33</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to these</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated Financial Statements.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company’s shares trade on the Italian Stock Exchange and the Mexican Stock Exchange; </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company’s American Depositary Securities (“ADS”) trade on the New York Stock Exchange.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These Consolidated Financial Statements were approved for issuance by the Company’s Board of Directors on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> February </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The Board of Directors has the power to amend and reissue the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">se</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated Financial Statements.</span></p> </div> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <p style="margin: 0pt; line-height: 1.2;"><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">II</span><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">. </span><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">A</span><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">CCOUNTING POLICIES</span></p> </div> <div style="line-height: 1.2;"> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The accounting policies applied in the preparation of these Consolidated Financial Statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_GVTCPW97SW00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">A     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Basis of presentation</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial Reporting Standards (“IFRS</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">"</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">"</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">IFRS Accounting Standards</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”), as issued by the International Accounting Standards Board (“IASB”) and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in accordance with IFRS</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">under the historical cost convention, as modified by the revaluation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">certain </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">financial assets</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and liabilities (including derivative instruments) and plan assets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of U.S. dollars (“$”).</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Whenever necessary, c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ertain comparative amounts</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">have been reclassified to conform to changes in presentation in the current year.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain accounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities, contingent liabilities, revenues and expenses. Actual results may differ from these estimates.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> main</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> areas involving </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">material</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> estimates or judgements are: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mpairment of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">long-lived assets (not</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">H</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">),</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">impairment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> investments in associates (note II.B)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">; i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">axes </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">including recoverability of deferred tax assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(note II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">O</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">); </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">allowance for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">obsolescence of inventory (note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">II.J</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">); contingencies (note II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Q</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">); </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">allowance for trade receivables (note II.K)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">;</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">post-employment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and other long-term </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">benefits</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (note II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">P</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">);</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">business combinations </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(note</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> II.B); u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">seful lives of property, plant and equipment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> other long-lived assets (notes II.E, II.F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">H</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value estimation of certain financial instruments (note III.B)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> there were no </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">significant</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> changes in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">material</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> accounting estimates</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and judgements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div> <div style="border-left: none; border-right: none;"> <span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_IPRV4V6H7400000000000000000000fs">1</span>)     </span><span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;">Accounting pronouncements applicable as from J</span><span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;">anuary <span id="fs_A73L2ZPRKW00000000000000000000fs">1</span>, <span id="fs_WSJZHLLQ9S00000000000000000000fs">20</span></span><span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_BMUUWKFF7400000000000000000000fs">2</span></span><span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_5KRJ2CSSG000000000000000000000fs">5</span></span></div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Amendments to IAS <span id="fs_VNO8SJSB5C00000000000000000000fs">21</span> – Lack of Exchangeability</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">August</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2023, the IASB published “Lack of Exchangeability (Amendments to IAS <span id="fs_7HZYF1QJWG00000000000000000000fs">21</span>)” with new guidance to determine when a currency is exchangeable or not, and how to determine the exchange rate to apply when a currency is not exchangeable. The amendments also require the disclosure of additional information when a currency is not exchangeable. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The amendments are effective for annual periods beginning on or after January 1, 2025, with early adoption permitted and without retrospective application.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These amendments do not have a material impact on the Company’s operations or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Consolidated F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">inancial </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatements.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">No o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ther a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ccounting pronouncements became effective during <span id="fs_W3W7HMIZSW00000000000000000000fs">2025</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_4KN5JKLG0000000000000000000000fs">2</span>)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">     </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">New accounting pronouncements not applicable as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_OYDJLOO0PC00000000000000000000fs">5</span></span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">IFRS <span id="fs_O843MAA9MO00000000000000000000fs">18</span> - Presentation and Disclosures in Financial Statements</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In April 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NUT2UFFF9C00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the IASB published IFRS <span id="fs_W3OPWDVVB400000000000000000000fs">18</span>, that will replace IAS <span id="fs_CX8YAE54DS00000000000000000000fs">1</span> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">P</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">resentation of financial statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. IFRS <span id="fs_C6QB0QFHQO00000000000000000000fs">18</span> introduces</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> new requirements that will help to achieve comparability of the financial performance of similar entities and provide more relevant information and transparency to users. Even though IFRS <span id="fs_NJEU1T9F0W00000000000000000000fs">18</span> will not impact the recognition or measurement of items in the financial statements, its impact</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on presentation and disclosure are expected to be </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">extensive</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, in particular those related to the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">income statement, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">statement of financial </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">position, statement of cash flows </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the inclusion of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> management-defined performance measures within the financial statements.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> will apply the new standard from its mandatory effective date of January</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_ALBZGFE2C000000000000000000000fs" style="line-height: inherit;">2027</span>. Retrospective application is required, and so the comparative information for the financial year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ending December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5LWK2GO58W00000000000000000000fs" style="line-height: inherit;">2026</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and December 31, 2025 will be restated in accordance with IFRS <span id="fs_P58ME73D7400000000000000000000fs" style="line-height: inherit;">18</span>.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Other </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">new</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ly published</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> accounting standards, amendments to accounting standards and interpretations are not mandatory for December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LPLEX9E6G000000000000000000000fs" style="line-height: inherit;">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> reporting periods and have not been early adopted by the Company. These standards, amendments or interpretations are not expected to have a material impact in the current or future reporting periods and on foreseeable future transactions.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><br/></p> <div id="fs_W0KIET7GSG00000000000000000000B"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">B<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">      </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Group accounting</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_0VN2VMGN8W00000000000000000000fs">1</span>)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">     </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Subsidiaries and transactions with non-controlling interests</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Subsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In some cases, the Company considers that it has the ability to affect returns through its power over an entity even if it holds less than 50% of the shares or voting rights of the subsidiary because it is able to prevail at all of the subsidiary’s general meetings, which in turn allows Tenaris to nominate and appoint a majority of the subsidiary’s board of directors.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Subsidiaries are fully consolidated from the date on which control is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">obtained</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> by the Company and are no longer consolidated from the date control ceases.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div> <div id="t_ft_JF8C8U0J2O00000000000000000000b"> </div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">acquisition</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> method is used to account for the acquisition of subsidiaries by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. The cost of an acquisition is measured as the fair value of the assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">transferred</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, equity instruments </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">issued,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and liabilities incurred or assumed at the date of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">exchange</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Acquisition-related costs are expensed as incurred.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Identifiable assets acquired</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> liabilities and contingent liabilities assumed in a business combination are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">generally </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">measured initially at their fair values at the acquisition date</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Any non-controlling interest in the acquiree is measured either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">identifiable </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">assets. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The excess of the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> aggregate of the</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">consideration transferred</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the amount of any non-controlling interest in the acquiree</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">over the fair value of the identifiable net assets acquired is recorded as goodwill. If </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">this</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> bargain purchase</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Contingent consideration is classified either as equity or a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">financial liability. Amounts classified as a financial liability are subsequently remeasured </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">at</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> fair value </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">through </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">profit or loss.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquire</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ransactions with non-controlling interests </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">that do not result in a loss of control</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are accounted</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as transactions with equity owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">When the Company ceases to have control, any retained interest in the entity is remeasured to its fair value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the change in carrying amount</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, net of consideration received (if any),</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Material intercompany transactions</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">balances </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and unrealized gains (losses) on transactions </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">between Tenaris subsidiaries have been eliminated in consolidation. However, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">since</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the functional currency of some subsidiaries </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s respective local currency, some financial gains (losses) arising from intercompany transactions</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are generated. These</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are included in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">inancial results</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 12pt 54pt; break-after: avoid; text-align: justify; text-indent: -54pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_U3BXTKJDSG00000000000000000000fs">2</span>)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">     </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Non-consolidated companies</span></h2> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Investments in non-consolidated companies </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">comprises </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">associates, which generally involve a shareholding of between 20% and 50% of the voting rights, and joint ventures</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Associated companies are those entities in which Tenaris exerts significant influence in accordance with IFRS but does not have control.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Associates are accounted for using the equity method.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Joint arrangements are combinations in which there are contractual agreements by virtue of which <span id="fs_11GXHQ8ZXS00000000000000000000fs" style="line-height: inherit;">two</span> or more partner companies hold an interest in <span id="fs_M1WG0KA89C00000000000000000000fs" style="line-height: inherit;">one</span> or more companies that undertake operations or hold assets in such a way that any financial or operating decision is subject to the unanimous consent of the partners (as defined by IFRS <span id="fs_GW1NUCDWXS00000000000000000000fs" style="line-height: inherit;">11</span> “Joint Arrangements”). A joint arrangement is class</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ifie</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d as a joint operation if the parties hold rights to its assets and have obligations in respect of its liabilities or as a joint venture if the venturers hold rights only to the investee's net assets.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris recognizes the assets, liabilities, revenues and expenses relating to its interest in a joint operation in accordance with the IFRS applicable to the particular asset, liability, revenue and expense. Joint ventures are accounted for using the equity method.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div> <div id="t_ft_TU2WSYXU0W00000000000000000000b"> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Under the equity method</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of accounting</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(as defined by IAS <span id="fs_77WBPJ2JCG00000000000000000000fs" style="line-height: inherit;">28</span>, “Investments in Associates and Joint Ventures”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, investments are initially recognized at cost and adjusted thereafter to recognize Tenaris’s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris’s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company’s investment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in non-consolidated companies includes goodwill identified in acquisition</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, if any</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, net of any accumulated impairment loss.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">If material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated to the extent of Tenaris’s interest in the non-consolidated companies. Unrealized losses are also eliminated unless the transaction provides evidence of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">a reduction in the net realizable value, or of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">an impairment indicator of the asset </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">sold or contributed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">. Financial statements of non-consolidated companies </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> adjusted where necessary to ensure consistency with IFRS.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">The Company’s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income Statement under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Equity in earnings</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">of non-consolidated companies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">. The Company’s pro-rata share of changes in other comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">The main investments in non-consolidated companies are:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -18pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">a)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">       </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Ternium</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">At December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_J1SQ2RKBJK00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_WRX5SUUN2O00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_60N3ZLM7EO00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">, Tenaris h</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">ld </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">11.46</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">%</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">in the share capital </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Ternium S.A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Ternium</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> representing 11.70% of its outstanding shares</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">. The following factors and circumstances evidence that Tenaris has significant influence </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">over Ternium</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">:</span></p> <ul style="font-family: 'times new roman', times; font-size: 10pt;"> <li style="font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 4.62pt; text-align: justify; text-indent: 0px; margin-left: -12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TLIJ013KF400000000000000000000fs">three</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> out of</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IK3O1X8TJK00000000000000000000fs">eight</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> members of Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oard of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">irectors (including Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">hairman) are also members of t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he Company’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oard of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">irectors</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">;</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">and</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 4.62pt; text-align: justify; text-indent: 0px; margin-left: -12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">both the Company and Ternium are under the indirect common control of San Faustin S.A. (“San Faustin”) and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nder the shareholders</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">’</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> agreement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">dated January 9, 2006, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">by and between </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company and Techint Holdings S.àr.l</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ("Techint")</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, a wholly owned subsidiary of San Faustin </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">controlling</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shareholder, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Techint</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is required to take actions within its power to cause</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (a) <span id="fs_4P7KXT5EYO00000000000000000000fs">one</span> of the members of Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oard of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">irectors to be nominated by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and (b) any director nominated by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to be removed </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oard of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">irectors </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">only </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">pursuant to previous written instructions of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">b)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">       </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Usiminas</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 10pt; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DQSYG8A2U800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Tenaris he</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ld, through its Brazilian subsidiary Confab Industrial S.A. (“Confab”), </span>47.5<span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million ordinary shares and 1.3 million preferred shares of Usinas Siderúrgicas de Minas Gerais S.A. (“Usiminas”), representing </span><span style="border-left: none; border-right: none;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;">6.76</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% of its shares with voting rights and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">3.96</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% of its total share capital. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Confab’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">participation in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Usiminas share</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> capital is the result of a series of acquisitions, the first of which was </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">performed on January 16, 2012, pursuant to which Ternium (through certain of its subsidiaries) and Confab acquired a large block of Usiminas ordinary shares and joined Usiminas’ existing control group. Subsequently, in <span id="fs_ULNORIFVGG00000000000000000000fs">2016</span>, Ternium and Confab subscribed to additional ordinary shares and to preferred shares.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On July 3, 2023, Confab, together with Ternium (through its subsidiaries Ternium Investments and Ternium Argentina), acquired additional ordinary shares.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 10pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Usiminas control group comprises the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T/T Group</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, formed by Ternium Investments, Ternium Argentina and Confab; the NSC Group, comprising Nippon Steel Corporation, Mitsubishi and MetalOne; and Usiminas’ employee pension fund, Previdência Usiminas. At December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4PD3DE1RGW00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Usiminas control group held, in the aggregate, 483.6 million ordinary shares, representing approximately 68.6% of Usiminas’ voting capital and the T/T Group held an aggregate participation of 61.3% in the control group (with 51.5% of the control group’s participation corresponding to Ternium’s subsidiaries, and remaining </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">9.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% corresponding to Confab); the NSC Group and Previdência Usiminas held 31.7% and 7%, respectively, in the control group.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Upon </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">closing</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of the July 3, 2023 acquisition</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">then </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">existing Usiminas shareholders agreement </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">governing the relationship between the T/T Group, the NSC Group and Previdência Usiminas </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">was replaced by a new shareholders agreement setting forth a new governance structure for Usiminas. The T/T Group is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">now </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">entitled to nominate a majority of the Usiminas board of directors, the chief executive officer and four other members of the Usiminas board of officers. Of the positions allocated to the T/T Group, Tenaris retains the right to nominate one member of the Usiminas board of directors and one member of the Usiminas board of officers. Ordinary decisions may be approved with a 55% majority of Usiminas’ control group shares. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0px; text-align: justify; text-indent: 0px;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The members of the Usiminas control group also agreed that, a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t any time after the second anniversary of the closing of the transaction, the T/T Group </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">would</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> have the right to buy the NSC Group’s remaining interest in the Usiminas’ control group (153.1 million ordinary shares) at the higher of $2.0584 per share and the equivalent in U.S. dollars of the 40-trading day average price per share immediately prior to the date of exercising the option. In addition, the NSC Group </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">would</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> have the right, at any time after the closing of the transaction, to withdraw its remaining shares from the control group and sell them in the open market after giving the T/T Group the opportunity to buy them at the equivalent in U.S. dollars of the 40-trading day average price </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">per share immediately prior to the NSC group’s notice of withdrawal, as well as the right, at any time after the second anniversary of the closing, to sell such shares to the T/T Group at $2.0584 per share. Confab </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">had</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the right (but not the obligation) to participate in each such transaction pro rata to its current participation in the T/T Group.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> On November 5, 2025, Ternium Investments entered into a share purchase agreement to acquire from Nippon Steel Corporation and Mitsubishi Corporation their remainder participations in the control group, at the price per ordinary share that the parties had agreed upon for the option transaction described above. Confab declined to participate in this transaction. The transaction </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">closed on February 10, 2026</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the date of these Consolidated Financial Statements, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the T/T group </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">holds</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> an aggregate participation of 92.9% in Usiminas’ control group (with Confab’s participation representing </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">9.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% of the control group)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Previdência Usiminas (Usiminas employees’ pension fund) hold</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the remai</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ning</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7.1%.</span><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Confab and the Ternium entities party to the Usiminas shareholders agreement have a separate shareholders agreement governing their respective rights and obligations as members of the T/T Group. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Under s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">uch separate agreement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Confab enjoys certain rights with respect to the governance of Usiminas, including, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">among</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> others, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the ability to nominate certain Usiminas’ officers and directors</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Those circumstances evidence that Tenaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">continues having </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">sign</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ificant influence over Usiminas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and, as a result, continues accounting for its investment under the equity method.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">c)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">       </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Techgen</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Techgen S.A. de C.V. (“Techgen”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, which operates an electric power plant in Mexico,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is a joint venture company owned 48% by Ternium, 30% by Tecpetrol International S.A.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (“Tecpetrol”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and 22% by Tenaris. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Ternium and Tecpetrol are parties to a shareholders’ agreement relating to the governa</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nce of Techgen and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are under the indirect com</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mon control of San Faustin</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris carries its investment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s in non</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">consolidated companies</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the equity method, with no additional goodwill</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or step-up</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized. Tenaris reviews investments in non-consolidated companies for impairment whenever events or changes in circumstances indicate that the asset’s carrying amount may not be recoverable. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For more information s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ee n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ote </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6WOF5AMH2800000000000000000000fs">14</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to these Consolidated Financial Statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div style="font-family: 'times new roman', times;"> </div> <div id="fs_4YPWLED4CW00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">C     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Segment information</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company is organized in one major business segment, Tubes, which is also the reportable operating segment. All other business activities and operating segments that are not required to be separately reported are disclosed in the Other segment.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Tubes segment includes the production and sale of steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods (“OCTG”) used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. Business activities included in this segment are mainly dependent on the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> worldwide</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> oil and gas industry, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil and natural gas wells being drilled, completed and reworked, and the depth and drilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally managed global distribution network and domestic sales are made through local subsidiaries.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Other segment includes all business activities related to the production and selling of sucker rods, coiled tubing, tubes used for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">plumbing and construction</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> applications, oilfield / hydraulic fracturing services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and others as energy and raw materials that exceed internal requirements.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Chief Operating Decision Maker (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CODM</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”)</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reviews </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">operating and financial performance information </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">with senior management on a monthly basis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. This </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">information differ</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> from IFRS principally as follows:</span></p> <ul style="font-family: 'times new roman', times; font-size: 10pt; padding-inline-start: 16px;"> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.27pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, including absorption of production overheads and depreciation;</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.27pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated at historical cost</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, mainly on a FIFO basis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">;</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.27pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ny currency translation adjustment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">classification</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, when applicable, for companies that under IFRS had a different functional currency than the U.S. dollar;</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">and</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.27pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ther timing differences, if any.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> presents</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> its geographical information in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_M288V26KU800000000000000000000fs">four</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> areas:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> North America,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> South America, Europe</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Asia Pacific</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Middle East and Afri</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ca</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. For purposes of reporting geographical information, net sales are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">allocated</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to geographical areas based on the customer’s location;</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> allocation of assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> based on the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ir</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">geographical</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> location</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_9HCB5903N400000000000000000000B"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">D     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Foreign </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">c</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">urrency </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">t</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">ranslation</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 35.45pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -35.45pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_ZNPX5RL7NK00000000000000000000fs">1</span>)<span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">    </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Functional</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> and presentation</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> currency</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">IAS </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QAP9OVJFPC00000000000000000000fs">21</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“The effects of changes in foreign exchange rates” </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">defines the functional currency as the currency of the primary economic environment in which </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">an </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">entity operates.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The functional </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and presentation </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">curren</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">y of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is the U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. The U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is the currency that best </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reflects the economic substance of the underlying events and circumstances relevant to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> global operations. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Starting January 1, 2023, the Company changed the functional currency of its Brazilian subsidiaries, from the Brazilian Real to the U.S. dollar.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div style="font-family: 'times new roman', times;"> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">E</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">xcept f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the Italian subsid</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">iaries whose functional currency</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Euro</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and two subsidiaries wh</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ose</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> functional currencies are the Canadian Dollar and the Norwegian Krone</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris determined that the functional currency of its</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> other subsidiaries </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is the U.S. dollar, based on the following principal considerations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <ul style="font-size: 10pt; padding-inline-start: 2px;"> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ales are mainly negotiated, denominated and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">/or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> settled in U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. If priced</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in a currency other than the U.S. dollar, the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">sales </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">price </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">may consider</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> exposure to fluctuation in the exchange rate </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">against</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the U.S. dollar;</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rices of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">their </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">critical raw materials and inputs are priced and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">/or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> settled in U.S. dollars; </span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ransaction</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and operational</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> environment and the cash flow </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of these </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">operations ha</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ve</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the U.S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as reference currency;</span> </li> <li style="font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">there is a s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ignificant level of integration of the l</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ocal operations within </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">international </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">global distribution network</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">;</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">and</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">et financial assets and liabilities are mainly received and maintained in U.S. dollars</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 6pt 0pt 0pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_XWR94HZSV400000000000000000000fs">2</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Transactions in currencies other than the functional currency</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuati</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">on where items are re-measured.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> the fair value was determined.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: normal; line-height: inherit;">Other financial results</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> in the Consolidated Income Statement, except when deferred in equity as qualifying cash flow hedges and qu</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">alifying net investment hedges.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_APPD6JI6B400000000000000000000fs">3</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Translation of financial information in currencies other than the functional currency</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Results of operations for subsidiaries whose functional currencies are not the U.S. dollar are translated into U.S. dollars at the average exchange rates for each quarter of the year. Financial statement positions are translated at the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-end exchange rates. Translation differences are recognized in a separate component of equity as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">urrency </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ranslation </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">djustment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. In the case of a sale or other disposal of any of such subsidiaries, any accumulated translation difference would be recognized in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Consolidated Income Statement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as a gain or loss from the sale</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or disposal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> following IAS <span id="fs_8T4V5YFZUO00000000000000000000fs">21</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Goodwill and fair value adjustments arising from the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">exchange </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rate.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 0pt;"><br/></p> <div id="fs_Q9KIOR64M800000000000000000000B" style="font-family: 'Frutiger 45 Light';"> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">E     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Property, plant and equipment</span></h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Property, plant and equipment are recognized at historical acquisition or construction cost</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> less accumulated depreciation</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and impairment losses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. H</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">istorical cost includes expenditure that is directly attributable to the acquisition of the items</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Property</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">lant</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quipment acquired through</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">acquisitions accounted for as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">business </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">combination</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">have been valued </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">initially </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">at the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">market </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">value of the assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">acquired.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Major overhaul and rebuilding expenditures</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are capitalized as property, plant and equipment only when </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">it is probable that future economic benefits associated with</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the item will flow to the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the investment enhances the condition of assets beyond its original condition.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The carrying amount of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">any</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> replaced part</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is derecognized</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">M</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">aintenance expenses on manufacturing properties are recorded as cost of products sold in the year in which they are incurred.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Cost may also include transfers fro</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">m equity of any gains or losses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Borrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as part of the cost of the asset, in accordance with</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> IAS <span id="fs_VM1V0UOT6800000000000000000000fs">23</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“Borrowing Cost</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ssets for which borrowing costs are capitalized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are those that require a substantial period of time to prepare for their intended use.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">epreciation method is reviewed at each year end. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Depreciation</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is calculated using the straight-line method to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">depreciate </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the cost of each asset to its residual value over its estimated useful life</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, as follows:</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_4WKPN7YUKG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0pt;" width="100%"> <tbody> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Land </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> No Depreciation </span></p> </td> </tr> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Buildings and improvements </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 30-50 years </span></p> </td> </tr> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Plant and production equipment </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 10-40 years </span></p> </td> </tr> <tr style="height: 1.95pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Vehicles, furniture and fixtures, and other equipment </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 1.4pt; text-indent: -1.4pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 4-10 years </span></p> </td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">’</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">residual values and useful lives of significant plant and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">production </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">equipment are reviewed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and adjusted</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> if appropriate, at each year</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">end</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">date. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">An asset’s carrying amount is written down to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management’s re</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">estimation of asset</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> useful </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">lives</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, performed </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in accordance with IAS <span id="fs_SC9QP529Y800000000000000000000fs">16</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> “Property</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Plant and E</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quipment”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">resulted in additional depreciation expenses </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">approximately</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">20.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in <span id="fs_GNQ91NZCZ400000000000000000000fs">2025</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">25.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_OEUNLKOAOW00000000000000000000fs">2024</span>,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">did not materially affect depreciation expenses in <span id="fs_UMI7XN0LO000000000000000000000fs">2023</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> depreciates each significant part of an item of property, plant and equipment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">for its different production facilities </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">that (i) can be properly identified as an independent component with a cost that is significant in relation to the total cost of the item, and (ii) has a useful operating life that is different from another significant part of that same item of property, plant and equipment.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Gains and losses on disposals are determined by comparing the proceeds with the carrying amount of assets and are recognized under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other operating income </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other operating expenses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div style="font-family: 'times new roman', times;"> </div> <div id="fs_1WC92GU1CG00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">F     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Intangible assets</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_35IDD5JJJK00000000000000000000fs">1</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Goodwill </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Goodwill represents the excess of the acquisition cost </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">over the fair value of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> share of net identifiable assets acquired as part of business combinations determined mainly by independent valuations. Goodwill is tested </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">at least </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">annually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are not reversed. Goodwill is included </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> the Consolidated Statement of Financial Position under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Intangible assets, net.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">For the purpose of impairment testing, g</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">oodwill is allocated to a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">cash generating unit (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">CGU</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> or group of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">CGUs</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> that </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">are expected to benefit from the business combination which generated the goodwill being tested.</span></p> <h3 style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; text-indent: -36pt;"><br/></h3> <h3 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_7WDEG1MW2O00000000000000000000fs">2</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Information systems projects</span></h3> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Costs associated with maintaining computer software programs are generally recognized as an expense as incurred. However, costs directly related to the development, acquisition and implementation of information systems are recognized as intangible assets if it is probable that they have economic benefits exceeding <span id="fs_A3Y1EAX8AO00000000000000000000fs">one</span> year and comply with the recognition criteria of IAS <span id="fs_AKVH0OPS5C00000000000000000000fs">38</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“Intangible Assets”.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Information systems projects recognized as assets are amortized using the straight-line method over their useful lives, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">generally </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">not exceeding a period of 3 years. Amortization charges are classified as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Cost of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ales</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Selling, general and administrative expenses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management’s re-estimation of assets useful lives, performed in accordance with IAS <span id="fs_UG39WVDAR400000000000000000000fs">38</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">did not materially affect </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">amortization expenses for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6SID2Y7RYO00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BJHS0SGOCW00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZY4P34Z7U800000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4VYD6N7R4000000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_0E2XB6OGJ400000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_686ZVBAWCW00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IU695SI6VK00000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> </p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_Z3PAFUIT8000000000000000000000fs">3</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Licenses, patents, trademarks and proprietary technology </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Licenses, patents, trademarks, and proprietary technology are initially recognized at cost, or at fair value at the acquisition date in case of a business combination. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their estimated useful lives, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which are in the range between <span style="border-left: none; border-right: none;">3</span> and </span>30<span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> years.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization charges are mainly classified as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Cost of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ales</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The balance of acquired t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rademarks</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that have indefinite useful lives according to external appraisal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> amount</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">86.7</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XFZQHBTNOG00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PXZT74DJ3400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ITO2KZRBY800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_B3JM5VIG8W00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QV1D8TG96800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IBKIXZJI6800000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_V7Z6N28O4G00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_8ZQGUI5JLC00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JP9C03VRVK00000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">included in Hydril CGU</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Main factors considered in the determination of the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> indefinite useful lives</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> include the years that </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">they have</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> been in service and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">their </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recognition among customers in the industry.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management’s re-estimation of assets useful lives, performed in accordance with IAS <span id="fs_4QVGAIY48000000000000000000000fs">38</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> did no</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t materially affect amortization</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> expenses for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2K2H501OU800000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KR47CJAJ3400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_OV3AJJVLN400000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_YAD5WPY8M800000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VRTT2Q01R400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CGJUBXLOO000000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_CHGHMBGLO000000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VBYX3ZJYM800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IGBUBQWC5S00000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_UUHU6YF24W00000000000000000000fs">4</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Research and development</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Research expenditures as well as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">development costs that do not fulfill the criteria for capitalization are recorded as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Cost of sales</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement as incurred. Research and development expenditures included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Cost of sales</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Z4Y6H9PA0000000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZSUF2KZGI800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CIBHIUXN6800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LXADLC2LLS00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_0MI8J227JK00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_UART7H7FB400000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EPPT5OGP2800000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2I5N7JBWJ400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QYAX77U8F400000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> tota</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">led </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">64.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">74.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">60.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Capitalized costs were not material for the years <span id="fs_D91D9QUNSW00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_R96C8NYWPS00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_80DCAD1L6800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_7K9Q0RIMB400000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4G98IEP3ZK00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ODYYFUNRY800000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_XGJ6RMW95C00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RK9H5QTR1C00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XSLUQ9H07400000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">(<span id="fs_5KSUNMGHZ400000000000000000000fs">5</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">Customer relationship</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">s</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0.85pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">In accordance with IFRS <span id="fs_VIZ4FLDC0000000000000000000000fs">3</span>, "Business Combinations" and IAS <span id="fs_B8F1EPNCOW00000000000000000000fs">38</span>, Tenaris has recognized the value of customer relationships separately from goodwill attributable to the acquisition of Maverick</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Tube Corporation (“Maverick”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> and Hydril</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Company (“Hydril”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> groups, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Saudi Steel Pipe Co. (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">SPC</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Ipsco Tubulars Inc. (“IPSCO”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">the more recent </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"><span id="fs_35RYQ0UKJ400000000000000000000fs">2023</span> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">acquisition of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Mattr’s pipe coating business unit</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Customer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">straight-line</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> method over the initial expected useful li</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">v</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">which were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">approximately 14 years for Maverick, 10 y</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ears for Hydril</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 9 years for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">SSP</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> (subsequently reduced to 7 years)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> for IPSCO</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">, and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">4 months</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> for Mattr’s pipe coating business unit.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management’s re-estimation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">customer relationships</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> useful lives, performed in accordance with IAS <span id="fs_8O6PKPB6YO00000000000000000000fs">38</span>, did not affect amortization expenses for the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DVZT3RW9F400000000000000000000fs">2025</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_URHES72ODC00000000000000000000fs">2024</span> and <span id="fs_C0VVAIU3GG00000000000000000000fs">2023</span>.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">As o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">f December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"><span id="fs_XCYHZM6KB400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"><span id="fs_D1CQ9XT97K00000000000000000000fs">5</span>,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">all the above-mentioned</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">customer relationships </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">we</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">re</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> fully amortized.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_JH96TAGWOG00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">G     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Right-of-use assets and lease liabilities</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">principal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the lease</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> term on a straight-line basis.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Lease liabilities include the net present value of i) fixed payments, less any lease incentives receivable, ii) variable lease payments that are based on an index or a rate, iii) amounts expected to be payable by the lessee under residual value guarantees, iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.</span> </p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment wit</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">h similar terms and conditions.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Right-of-use assets are measured at cost comprising the amount of the initial measurement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">lease liability, any lease payments made at or before the commencement date less any lease incentives </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">received,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and any initial direct costs incurred by the lessee.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or early termination</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, or not </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Variable lease payments are not included in the measurement of the lease liability and p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ayments associated with short-term leases</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, variable leases</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and leases of low</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">value assets are recognized on a straight-line basis as expenses in profit or loss. Short-term leases are leases with a lease term of 12 months or less.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="fs_PLS3KIGF2O00000000000000000000B" style="font-family: 'Frutiger 45 Light';"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">H     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Impairment of non-financial assets</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Long-lived assets including </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">identifiable intangible assets are reviewed for impairment at the lowest level for which there are separately identifiable cash flows</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CGU. Most of the Company’s principal subsidiaries that constitute a CGU have a single main production facility and, accordingly, each of such subsidiaries represents the lowest level of asset aggregation that generates largely independent cash inflows.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Assets that are subject to amortization or depreciation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Intangible assets with indefinite useful lives, including goodwill, are subject to at least an annual impairment test, or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are tested</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> more frequently if events or circumstances indicate that the carrying amount value may be impaired. In some </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">situations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> where there have not been significant changes to CGU assets and liabilities as well as external and internal </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">events and circumstances </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which could materially alter the recoverable amount of the CGU, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the most recent detailed calculation of recoverable amount made in a preceding period may be used in the impairment test for that </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CGU</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the current period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For purposes of assessing key assumptions, the Company uses external sources of information and management judgment based on past experience and expectations. Material facts and circumstances specifically considered in the analysis usually include the discount rate used in Tenaris’s cash flow projections and the business condition in terms of competitive, economic and regulatory factors, such as the cost of raw materials, oil and gas prices, and the evolution of the rig count.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris’s main source of revenue is the sale of products and services to the oil and gas industry, and the level of such sales is sensitive to international oil and gas prices and their impact on drilling activities. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management has determined the value of each of the key assumptions as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Discount rate: based on the applicable weighted average cost of capital (“WACC”), which is considered to be a good indicator of capital cost, taking into account the industry, country and size of the business. For each CGU where assets are allocated, a specific WACC was determined.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Growth rate: considers mainly the inflation impact on prices and costs, the long-term evolution of the oil and gas industry, the higher demand to offset depletion of existing fields and the Company’s expected market penetration.</span> </p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Oil and gas prices: based on industry analysts’ reports and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">management’s expectations of market development.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Rig count: based on information published by Baker Hughes and management’s expectations.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Raw material costs: based on industry analysts’ reports and management’s expectations.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher between the asset’s value in use and fair value less costs of disposal. Any impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -14.15pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(a) first, to reduce the carrying amount of any goodwill allocated to the CGU; and</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -14.15pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(b) then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset in the unit (group of units), considering not to reduce the carrying amount of the asset below the highest of its fair value less cost of disposal, its value in use or <span id="fs_ABOAPXXFY800000000000000000000fs">zero</span>.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Value </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">use is calculated by discounting the estimated cash flows over a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="-sec-ix-hidden:Tag11"><span style="border-left: none; border-right: none;">five</span>-year</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> period (or higher if the period can be justified) based on forecasts approved by management. For the subsequent years beyond the <span id="fs_3J9E9F3HA800000000000000000000fs">five</span>-year period, a terminal value is calculated based on perpetuity considering a nominal growth rate of 2% taking into account among others, mainly the historical inflation rate.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">For purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows that a market participant could generate from the corresponding CGU.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management judgment is required to estimate discounted future cash flows. Actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using discounting techniques.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each reporting date. For more information on impairment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">charges see note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ADSJQYBRR400000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to these</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated Financial Statements.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_GPIYN5UTZ400000000000000000000B" style="font-family: 'times new roman', times;"> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">I     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Other </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">i</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">nvestments</span></h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">O</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ther investments consist primarily of investments in financial instruments</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and time deposits with a maturity of more than </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_289F6MLVEO00000000000000000000fs">three</span> months</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at the date of purchase</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Certain non-derivative financ</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ial assets that the Company held not for trading</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> have been categorized as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">financial assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">at </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value through other comprehensive income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (“FV</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">OCI</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as the business model objective is achieved by both holding financial assets in order to collect contractual cash flows and selling financial assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. They are carried at </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">omprehensive </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Income and transferred to the C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement when the financial asset is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">disposed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Exchange gains and losses and impairments related to the financial assets are immediately recognized in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement. F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">V</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">OCI</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> instruments with maturities greater than 12 months after the balance sheet date a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re included in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> non-current assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Other investments in financial instruments may be classified as financial assets at fair value through profit or loss (“FVPL”) when such investments are held for trading, or when their performance is evaluated on a fair value basis. Other investments in time deposits may be classified as financial assets measured at amortized cost when the Company’s intention is to hold these investments until maturity. The results of these investments are recognized within </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Financial Results</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Purchases and sales of financial investments are recognized as of the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ir</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">settlement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> date</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">The fair values of quoted investments are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">generally </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">based on current bid prices. If the market for a financial investment is not active or the securities are not listed, Tenaris estimates the fair value by using standard valuation techniques</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">. S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ee s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ectio</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">n III Financial Risk Management</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div style="font-family: 'times new roman', times;"> <div id="t_ft_GET8KL0EY800000000000000000000b"> </div> </div> <div style="font-family: 'times new roman', times;"> <div id="fs_2EQ53HJNU800000000000000000000B"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">J     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Inventories</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Inventories are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">measured</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at the lower between cost and net realizable value. The cost of finished goods and goods in process is comprised of raw materials, direct labor, utilities</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, freights</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and other direct costs and related production overhead costs, and it excludes borrowing costs. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">llocation of fixed production costs</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, including depreciation and amortization charges,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is based on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> normal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> level of production capacity. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Inventories</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> cost is mainly based on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">FIFO method. Tenaris estimates </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net realizable value of inventories by grouping, where applicable, similar or related items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated costs of completion and selling expenses. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">G</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oods in transit </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> year</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">end are valued based on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">supplier’s invoice cost.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris establishes an allowance for obsolete or slow-moving inventories related to finished goods, supplies and spare parts. For slow moving or obsolete finished products, an allowance is established based on management’s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies and spare parts is established based on management's analysis of such items to be used as intended and the consideration of potential obsolescence due to technological changes, aging and consumption patterns.</span></p> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_6FF48RSJWG00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">K     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Trade </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">and other </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">receivables</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Trade and other receivables are recognized initially at</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> fair value that corresponds to</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> the amount of consideration that is unconditional unless they contain significant financing c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">omponents. The Company holds</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> trade receivables with the objective to collect the contractual cash flows and therefore measu</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">res them subsequently at amortiz</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ed cost using the effective interest method. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Due to the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ir</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> short-term nature, their carrying amount is considered to be the same as their fair value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Tenaris applies the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> IFRS <span id="fs_22WN5MZ03K00000000000000000000fs">9</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> “Financial Instruments”</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">simplified approach to measure</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> expected credit losses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based on the payment profiles of sales over a period of three years</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> and the corresponding historical credit losses exp</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">erienced within this period. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">The expected loss allowance also reflects current and forward-looking information on macroeconomic factors affecting the ability of each customer to settle the receivables.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">A credit account is typically considered in default when the customer has failed to make the required minimum payments for an extended period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> of time</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">. Management considerations, including customer-specific analyses, are carried out to determine if an allowance has to be allocated to the credit. Following impairment, collection is monitored and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">impairment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">reversed in case of receipt of the payment.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span></p> <div id="fs_E8RQ3Z33NK00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">L     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash and cash equivalents</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Cash and cash equi</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">valents are comprised of cash at</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> banks, liquidity funds and short-term investments with a maturity of less than <span id="fs_63T3GPBZCW00000000000000000000fs">three</span> months at the date of purchase which are readily convertible to known amounts of cash</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> which are subject to an insignificant risk of changes in value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">. Assets recorded in cash and cash equivalents are carried at fair market value or at historical cost which </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">approximates fair market value.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">In the Consolidated Statement of Financial Position, bank overdrafts are included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;">Borrowings</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> in current liabilities.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">For the purposes of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Consolidated Statement of C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ash </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">low</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;">ash and cash equivalents</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> includes </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">overdrafts</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div style="font-family: 'times new roman', times;"> <div id="t_ft_4LQLM9FEO000000000000000000000b"> </div> </div> <div style="font-family: 'times new roman', times;"> <div id="fs_6VBLR6LGNK00000000000000000000B"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">M     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">E</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">quity</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_SKZ71O59TS00000000000000000000fs">1</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Equity</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> components</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">hanges in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">E</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quity include</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <ul style="font-family: 'times new roman', times; font-size: 10pt; padding-inline-start: 16px;"> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.42pt; text-align: justify; text-indent: 0px;"><span style="margin-left: 0pt; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the value of share capital, legal reserve and share premium calculated in accordance with Luxembourg law;</span> </li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.42pt; text-align: justify; text-indent: 0px;"><span style="margin-left: 0pt; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the currency translation adjustment, treasury shares, other reserves, retained earnings and non-controlling interest calculated in accordance with IFRS.</span> </li> </ul> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_H5YVPRXEZK00000000000000000000fs">2</span>)</span><span style="line-height: inherit;"><span>    </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Share cap</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">it</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">al</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.00 per share. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Total ordinary shares issued as of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AEYL8JN4TC00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JAW3E2UCHC00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_DNSBLO6APC00000000000000000000fs">2024</span> and <span id="fs_O81PIWHLZK00000000000000000000fs">2023</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,071,994,930</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,162,757,528</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,180,536,830</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> with a par value of $1.00 per share with one vote each.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Total ordinary shares outstanding as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_X7FEZ3K60G00000000000000000000fs">5</span>, <span id="fs_5V6VVYOK7400000000000000000000fs">2024</span> and <span id="fs_P1TI7IGCV400000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4287KAIRN400000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">we</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,011,823,958</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,084,272,191</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,167,888,739</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> with a par value of $1.00 per share with one vote each. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Outstanding shares do not include treasury shares. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">All issued shares are fully paid.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_7DCCPQ8EF400000000000000000000fs">3</span>) </span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">   </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Treasury Shares</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Acquisitions of treasury shares are recorded at acquisition cost, deducted from equity until disposal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or cancellation</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Any potential</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> gains </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> losses on disposal of treasury shares </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Changes in Equity</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Treasury shares as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AORZ9AJ4XC00000000000000000000fs">5</span>, <span id="fs_SOAW1SJ6KG00000000000000000000fs">2024</span> and <span id="fs_CVQWVRLCF400000000000000000000fs">2023</span>,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">we</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">60,170,972</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">78,485,337</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">12,648,091</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_W73NSMSZOW00000000000000000000fs">4</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Dividends distribution by the Company to shareholders </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Dividends distributions are recorded in the Company’s financial statements when Company’s shareholders have the right to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with the by-laws of the Company.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Dividends may be paid by the Company to the extent that it has distributable retained earnings, calculated in accordance with Luxembourg law. S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ee </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ote</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_63W9OB3I9S00000000000000000000fs">27</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (iii)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> these Consolidated Financial Statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 11pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span></p> <div id="fs_YN0HBPP2EO00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">N     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Borrowings</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 11pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Borrowings are recognized initially at fair value net of transaction costs incurred and subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method.</span></p> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_Z5VKKKXC7400000000000000000000B" style="font-family: 'Frutiger 45 Light';"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">O    </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Current and d</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">eferred income tax</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The income tax expense or credit for the period is the tax payable</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or recoverable</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Both c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">urrent and deferred t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ax </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized in the Consolidated Income Statement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Income </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ax</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, except </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to the extent that it relates to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">items recognized in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">other comprehensive income or directly in equity.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">In these cases, the tax is also recognized in other comprehensive income or directly in equity, respectively.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The current income tax charge is calculated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">based on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the tax laws enacted or substantively enacted at the reporting date in the countries where the Company’s subsidiaries operate and generate taxable income.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred income tax is recognized applying the liability method on temporary differences arising between the tax bas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s of assets and liabilities and their carrying amounts in the financial statements. The temporary differences arise </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mainly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net operating loss carry-forwards, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the effect of currency translation on depreciable fixed assets and inventories, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">valuation of inventories</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">depreciation on property, plant and equipment, provisions for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">post-employment benefits and other long-term employee benefits</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value adjustments of assets acquired in business combinations. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets and liabilities are measured at the tax rates that are expected to apply </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> period when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">by the end of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reporting </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Company measures its tax balances either based on the most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets are recognized to the extent</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> it is probable that future taxable </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">profits</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> will be available</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> against which the te</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mporary differences </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and losses </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">can be utiliz</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At the end of each reporting period, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> reassesses </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">unrecognized</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> deferred tax assets. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recognizes</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a previously </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">unrecognized</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> deferred tax asset to the extent that it has become probable that future taxable </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> will allow the deferred tax asset to be recovered.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liabilities</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are not recognized for temporary differences </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">arising from the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">carrying amount and t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ax basi</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s of investments in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">subsidiaries, branches and associates, and interests in joint ventures, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">if</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ompany is able to control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable future.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and liabilities are re-measured</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> if tax rates change. These amounts </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are charged or credited to the Consolidated Income Statement or to the item </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">O</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ther co</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">mprehensive income </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Comprehensive I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome, depending on the account to which the original </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">amount was charged or credited.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Pillar <span id="fs_JIYEGV47N400000000000000000000fs">Two</span> legislation was </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">adopted in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Luxembourg</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nd </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ca</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">me into effect </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">January 1, 2024</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">within the scope of these rules</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">herefore, is required to calculate its GloBe effective tax rate for each jurisdiction </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in which it is present</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and is liable to pay a top-up tax for the difference between its Glo</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">B</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e effective tax rate per jurisdiction and the 15% minimum rate. <span style="border-left: none; border-right: none;">Tenaris applies the IAS 12 exception regarding the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes.</span></span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div style="font-family: 'times new roman', times;"> </div> <div id="fs_SKAQCKFQAO00000000000000000000B"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">P     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Employee benefits</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 22.5pt; text-align: justify; text-indent: -22.5pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_YBINLZ3T2800000000000000000000fs">1</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">      </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Short-term obligations</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Liabilities for wages and salaries are recognized in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Consolidated B</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">alance </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">heet.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 22.5pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -22.5pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_9OTDPVAXE800000000000000000000fs">2</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">      </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Post</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">employment benefits</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement, usually dependent on <span id="fs_PQVI89KMS000000000000000000000fs">one</span> or more factors such as age, years of service and compensation.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets, if any. </span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">When</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the fair value of the plan assets exceeds the value of the defined benefit obligation</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the surplus</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is recognized in the statement of financial position as other receivables non-current. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The defined benefit obligation is calculated annually (at year end) by independent actuaries using the projected unit credit method. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The present value of the defined benefit obligation is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mainly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">determined by discounting the estimated future cash flows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other comprehensive income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the period in which they arise. Past-service costs are recognized immediately in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income Statement.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For defined benefit </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">funded </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">plans, net interest income</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">/</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">expense is calculated based on the surplus or deficit derived by the difference between the defined benefit obligations less fair value of plan assets. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For defined contribution plans, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has no further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expenses when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><br/></p> <div style="font-family: 'times new roman', times;"> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris sponsors funded and unfunded defined benefit pension plans in certain subsidiaries. The most significant are:</span></p> <ul style="list-style-type: disc; padding-inline-start: 16px;"> <li class="mylistitemclass" style="padding: 0px 0px 10px 10px; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to provide certain benefits to those officers (additional to those contemplated under applicable labor laws) in case of termination of the employment relationship due to certain specified events, including retirement. This unfunded plan provides defined benefits based on years of service and final average salary</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_74MH52K1IO00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ECZ05DIJ6800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the outstanding liabil</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ity for this plan amounts to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">63.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></li> <li class="mylistitemclass" style="padding: 0px 0px 10px 10px; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Employees’ service rescission indemnity</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">cost of this obligation is charged to the Consolidated Income Statement over the expected service lives of employees. This provision is primarily related to the liability ac</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">crued for employees at </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Italian subsidiar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. As from January 1, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4FOUWSI5DS00000000000000000000fs">2007</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">because of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a change in an Italian law, employees were entitled to make contributions to external funds, thus, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Italian subsidiar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> pay every year the required contribution to the funds with no further obligation. As a result, the plan changed from a defined benefit plan to a defined contribution plan effective from that </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">date but</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> only limited to the contributions of <span id="fs_TG2DE7OPSG00000000000000000000fs">2007</span> onwards.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_UFK5WXN9ZK00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JN79XJSAGW00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the outstanding </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liabil</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ity for this plan amounts to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">10.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></li> <li class="mylistitemclass" style="padding: 0px 0px 10px 10px; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Funded retirement benefit plan held in the U</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for the benefit of some employees hir</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed prior a certain date,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> frozen for the purposes of credited service as well as determination of final average pay for the retirement benefit calculation. Plan assets consist primarily of money market </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">funds. Additionally, an unfunded post</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">retirement health and life plan</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in place</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that offers limited medical and life insurance benefits to the retirees, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">frozen to new participants</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A plan termination of the funded retirement benefit plan was initiated during <span id="fs_59EM3QIR1S00000000000000000000fs">2025</span> and is expected to be completed in <span id="fs_FINW6FKM3K00000000000000000000fs">2026</span>.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DCXI2TVM0W00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JSCFR9TX9S00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">outstanding</span><span style="font-size: 10pt; line-height: inherit;"><span> </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liabil</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ity for these</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> plan</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> amounts to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">By their </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nature</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, defined benefit plans expose </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to typical risks such as investment performance, changes to discount rates used to value the obligations, rate of compensation increase (including inflation rates) and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">demographic variables </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> plan members</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Pension and benefit risks are managed by regular monitoring of the plans, applicable regulations and other factors that may impact </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">expenses and cash flows. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The unfunded defined benefit plans </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are met as they fall due and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are managed directly by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, which is entirely responsible for the plans. The funded defined benefit pension plans are governed and administered in accordance with applicable pension legislation in each jurisdiction. Each plan has an overseeing committee. The defined benefit plans are monitored on an ongoing basis to assess the funding and investment policies, financial status, and funding requirements. Significant changes to a plan or policy would be subject to approval by the board of directors of each subsidiary of the Company. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt;"><br/></p> <p style="font-family: 'times new roman', times; line-height: 12pt; margin: 0pt 0pt 0pt 21.3pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -21.3pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_AYH045EPS000000000000000000000fs">3</span>)</span><span style="line-height: inherit;"><span>    </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">O</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">ther long-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">term benefits</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During <span id="fs_U0WZ3RAZVK00000000000000000000fs">2007</span>, Tenaris launched an</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">employee retention and long</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">term incentive program</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Program”) applicable to certain senior officers and employees of the Company, who </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> granted a number of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nits throughout the duration of the Program. The value of each of these </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nits is based on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shareholders’ equity (excluding non-cont</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rolling interest). </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Until </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the end of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DDNJ87PTV400000000000000000000fs">2017</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nits </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">vest</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ratably over</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a period of four years and were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mandatorily</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> redeemed by the Company ten years after grant date, with the option of an early redemption at seven years after</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> grant date.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Since</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XRI691JSU800000000000000000000fs">2018</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">units </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">vest</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ratably over the same period and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mandatorily redeemed by the</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Company seven years after grant date.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The beneficiaries of the Program are entitled to receive cash amounts based on: (i) the amount of dividend payments made by Tenaris to its shareholders and (ii) the number of units held by each beneficiary to the Program. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The payment of the benefit is tied to the book value of the shares, and not to their market value.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris valued this long-term incentive program as a long</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">term benefit plan as classified in IAS <span id="fs_EAVJHW3EEO00000000000000000000fs">19</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> “Employee Benefits”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5U1QLRNCHS00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Q8ZCMQ114W00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_E9QW0IKFUO00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_1UV56877OW00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_OZNQXYGGOG00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the outstanding liability corresponding to the Program amounts to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">154.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(out of which $50.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million are classified as current liabilities) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">148.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (out of which $46.8 million are classified as current liabilities)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively. The total value of the units granted </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(vested and unvested) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to date under the program, considering the number of units and the book value p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">er share as of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5YEASJ0NCW00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VETWBKGHV400000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_H5HX3KISVK00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EQSPAFF4I800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CDR39A2WMO00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, is $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">181.0</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">175.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, respectively.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <div style="font-family: 'times new roman', times;"> <div id="t_ft_OPJVO5ERHS00000000000000000000b"> </div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_9F07OHNOGG00000000000000000000fs">4</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">      </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Termination benefits</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Termination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Tenaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recognizes</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> termination benefits at the earlier of the following dates: (a) when it can no longer withdraw the offer of those benefits; and (b) when the costs for a restructuring that is within the scope of IAS <span id="fs_F37579R45C00000000000000000000fs">37</span> involves the payment of termination benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_KNSFK0REBK00000000000000000000fs">5</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">      </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Other compensation obligations</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Employ</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ee entitlements to annual leave, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">long-service leave</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, sick leave and other bonuses and compensations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> obligations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are accrued as earned.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Compensation to employees in the event of dismissal is charged to income in the year in which it becomes payable.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_6QGFXDBOLC00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Q     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Provisions </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris is subject to various claims, lawsuits and other legal proceedings, including customer claims, in which a third party is seeking payment for alleged damages, reimbursement for losses or indemnity. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management periodically reviews the status of each significant matter and assesses potential financial exposure. If</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, as a result of past events, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a potential loss from a claim or proceeding is considered probable and the amount can be </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reliably</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> estimated, a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">provision </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">statements and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> take into consideration </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> litigation and settlement strategies. These estimates are primarily constructed with the assistance of legal counsel. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As the scope of liabilities become better defined, there may be changes in the estimates of future costs </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which could have a material adverse effect on its results of operations, financial condition and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">cash flows.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">If Tenaris expects to be reimbursed for an accrued expense, as would be the case for an expense or loss covered under an insurance contract, and reimbursement is considered virtually certain, the expected reimbursement is recognized as a receivable.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">This note should be read in conjunction </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">with </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ote </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RLM4BFGVCW00000000000000000000fs">27</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> these Consolidated Financial Statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_ZGSXNAHITS00000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">R     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Trade and other payables </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Trade and other payables are recognized initially at fair value, generally the nominal invoice amount and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">subsequently measured at amortiz</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed cost. They are presented as current liabilities unl</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ess payment is not due within <span id="fs_Q351G99YMO00000000000000000000fs">twelve</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> months after the reporting period.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Due to the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ir</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> short-term nature </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">heir carrying amount</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considered to be the same as their fair value.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><br/></span></p> <div style="font-family: 'times new roman', times;"> </div> <div id="fs_BYC1QC4LR400000000000000000000B" style="font-family: 'times new roman', times;"> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">S     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Revenue recognition </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Revenue comprises the fair value of the consideration received or receivable for the sale of goods and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> rendering of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> services in the ordinary course of Tenaris’s activities. The revenue recognized by the Company is measured at the transaction price of the consideration received or receivable to which the Company is entitled to, reduced by estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized and after eliminating sales within the group.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Revenue is recognized at a point in time or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">over</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> time from sales when control has been transferred and there is no unfulfilled performance obligation that could affect the acceptance of the product by the customer. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The control </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> transfer</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">red</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">upon</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> delivery.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred and either the customer has accepted the product in accordance with the sales contract, the acceptance provisions have lapsed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or the Company has objective evidence that all criteria for acceptance have been satisfied, including all performance obligations. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These conditions are determined and ana</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">lyzed on a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">contract-by-contract</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> basis to ensure that all performance obligations are fulfilled</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n particular, Tenaris verifies customer acceptance of the goods, the satisfaction of delivery terms and any other applicable condition.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">For bill and hold transactions</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> revenue is recognized only to the extent that (a) the reason for the bill and hold arrangement must be substantive (for example, the customer has requested the arrangement); (b) the products have been specifically identified and are ready for delivery; (c) the Company </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">does not</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> have the ability to use the product or to direct it to another customer; (d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">) the usual payment terms apply.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company’s contracts</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> with customers</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> do not provide any material variable consideration, other than discounts, rebates and right of return. Discounts and rebates are recognized based on the most likely value and right</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of return</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are based o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n expected value considering past experience</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and contract conditions.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">Whe</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> the contracts include multiple performance obligations, the transaction price is allocated to each performance obligation based on the stand-alone selling prices. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> these are not directly observable, they are estimated based on the expected </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">cost-plus</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> margin.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">There are no judgements applied by management that significantly affect the determination of timing of satisfaction of performance obligations, nor the transaction price and amounts allocated to different performance obligations. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris provides services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> primarily</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> related to goods sold, which represent a non-material portion of sales revenue and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mainly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">include:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Pipe </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">m</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">anagement </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ervices</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">This comprises mainly preparation of the pipes ready to be run, delivery to the customer, storage services and rig return.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Field </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ervices</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Comprises</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">field technical support and running assistance.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These services</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rendered in connection to the sales of goods and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> attached to contracts with customers for the sale of goods. A significant portion of service revenue is recognized in the same period as the goods sold. There are no distinct uncertainties in the revenues and cash flows of the goods sold and services rendered as they are included in the same contract, have the same counterparty and are subject to the same conditions.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he following in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">put and output methods are applied</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to recognize revenue</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considering the nature</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of service</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Storage services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ompany provides storage services in owned or third-party warehouses, subject to a variable fee</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to be invoiced. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">his fe</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e is determined based on the time that the customer maintains the material in the warehouse and th</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e amount of the material stored. In </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">most</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> cases, to quantify the amount to be invoiced in any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored (in tons).</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Freights</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the revenue </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is recognized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">on a pro rata basis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considering the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">units delivered and time</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> elapsed.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Field services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the revenue i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s recognized considering output</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> method</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, in particular surveys of service comple</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tion provided by the customer.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company also provides </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">other services, such as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">hydraulic fracturing, coiled tubing and coating services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Regarding these services, the input and output methods to recognize the revenue are the following:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Hydraulic fracturing services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the revenue is recognized considering output methods, in particular surveys of service completion provided by the customer.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Coiled tubing services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the revenue is recognized considering output methods, in particular surveys of service completion provided by the customer.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Coating services: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company provides coating services on third-party tubes which are performed under specific contracts and recognized by reference to the stage of completion. Stage of completion is determined based on surveys of work performed as measured by units of production to date multiplied by contractually agreed-upon rates.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Revenue from providing services is recognized over time in the accounting period in which the services are rendered.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company does not expect to have any contracts </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in which</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds <span id="fs_L42OP6OH0G00000000000000000000fs">one</span> year. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Therefore</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considering that the contracts do not include any significant financing component,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the Company does not adjust any of the transaction pric</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">es for the time value of money. For this reason, the Company is also applying the practical expedient not to disclose details on transaction prices allocated to the remaining performance obligations as of the end of the reporting period.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris only provides standard quality warranties assuring that the goods sold will function as expected or are fit for their intended purpose, with no incremental service to the customer. Accordingly, warranties do not constitute a separate performance obligation.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In accordance with IFRS <span id="fs_1C1H4B72VK00000000000000000000fs">15</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognizes contract assets and contract liabilities.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A contract asset arises when </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has satisfied a performance obligation by transferring goods or services to a customer but has not yet established an unconditional right to consideration, as further performance or conditions may be required before invoicing the customer. Where invoicing is based on achievement of specific milestones, although work has been performed and revenue has been recognized, the contractual right to issue an invoice may be contingent on reaching the agreed milestone. A contract asset remains in this category until the right to payment becomes unconditional (i.e., invoice is issued), at which point it is reclassified as a trade receivable.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A contract liability is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> obligation to transfer goods or services to a customer for which </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has received consideration (or an amount of consideration is due) from the customer. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognizes a contract liability when it receives a payment (or becomes entitled to a payment) before transferring goods or services to the customer. A contract liability, also referred to as customer advance, is reduced as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> fulfills its performance obligations by delivering goods or rendering services to the customer.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_OACBRTWZLS00000000000000000000B" style="font-family: 'times new roman', times;"> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">T     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Cost of sales and </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">other selling expenses</span></h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Cost of sales and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">other selling</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">expenses are recognized in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement on the accrual basis of accounting.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Commissions, freight</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and other selling expenses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, including shipping and handling costs, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recorded</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">elling, general and administrative expense</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Consolidated I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <div id="fs_CQNR1TQ6J400000000000000000000B" style="font-family: 'times new roman', times;"> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">U    </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Earnings per share</span></h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Earnings per share are calculated by dividing the income attributable to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the shareholders’ equity</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">by the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">monthly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">weighted average number of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">common</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shares </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">outstanding</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> during the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">There are no dilutive potential ordinary shares.</span></p> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><br/></p> <div id="fs_Z5O0L585A800000000000000000000B"> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">V     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">F</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">inancial instruments</span> </h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Non</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">derivative financial instruments comprise investments in financial debt instruments and equity, time deposits, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">contract assets, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">trade and other receivables, cash and cash equivalents, borrowing</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s and trade and other payables.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company classifies its financial instruments according to the following measurement categories:</span></p> <ul style="font-family: 'times new roman', times; font-size: 10pt; padding-inline-start: 2px;"> <li style="font-family: Wingdings; font-size: 10pt; line-height: 12pt; list-style-position: inside; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">those to be measured subsequently at fair value (either through OCI or through profit or loss), and</span></li> <li style="font-family: Wingdings; font-size: 10pt; line-height: 12pt; list-style-position: inside; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">those to be measured at amortised cost</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The classification depends on the Company’s business model for managing the financial assets and contractual terms of the cash flows.</span> </p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <div> <div id="t_ft_OUZHIKM9Y800000000000000000000b"> </div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Financial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit or loss.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash flow characteristics of the asset. There are <span id="fs_TKA3I3YU7K00000000000000000000fs">three</span> measurement categories into which the Company classifies its debt instruments:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Amortized Cost:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Fair value through oth</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">er comprehensive income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Fai</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">r value through profit and loss</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Assets that do not meet the criteria for amortized cost or FVOCI. Changes in fair value of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">E</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quity instruments are subsequently measured at fair value</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">either through profit or loss (FVPL) or through other comprehensive income (FVOCI). Changes in fair value are recognised in profit or loss unless Tenaris makes an irrevocable election at initial recognition to present changes in fair value in other comprehensive income for instruments not held for trading.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Accounting for derivative financial instruments and hedging act</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ivities is included within the s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ection III, Financial Risk Management.</span></p> </div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">A     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Basis of presentation</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial Reporting Standards (“IFRS</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">"</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">"</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">IFRS Accounting Standards</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”), as issued by the International Accounting Standards Board (“IASB”) and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in accordance with IFRS</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">under the historical cost convention, as modified by the revaluation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">certain </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">financial assets</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and liabilities (including derivative instruments) and plan assets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of U.S. dollars (“$”).</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Whenever necessary, c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ertain comparative amounts</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">have been reclassified to conform to changes in presentation in the current year.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain accounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities, contingent liabilities, revenues and expenses. Actual results may differ from these estimates.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> main</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> areas involving </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">material</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> estimates or judgements are: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mpairment of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">long-lived assets (not</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">H</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">),</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">impairment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> investments in associates (note II.B)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">; i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">axes </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">including recoverability of deferred tax assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(note II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">O</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">); </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">allowance for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">obsolescence of inventory (note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">II.J</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">); contingencies (note II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Q</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">); </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">allowance for trade receivables (note II.K)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">;</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">post-employment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and other long-term </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">benefits</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (note II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">P</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">);</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">business combinations </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(note</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> II.B); u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">seful lives of property, plant and equipment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> other long-lived assets (notes II.E, II.F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">H</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value estimation of certain financial instruments (note III.B)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> there were no </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">significant</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> changes in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">material</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> accounting estimates</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and judgements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div> <div style="border-left: none; border-right: none;"> <span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_IPRV4V6H7400000000000000000000fs">1</span>)     </span><span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;">Accounting pronouncements applicable as from J</span><span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;">anuary <span id="fs_A73L2ZPRKW00000000000000000000fs">1</span>, <span id="fs_WSJZHLLQ9S00000000000000000000fs">20</span></span><span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_BMUUWKFF7400000000000000000000fs">2</span></span><span style="font-size: 10pt; text-align: justify; text-indent: -36pt; font-family: 'Frutiger 45 Light'; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_5KRJ2CSSG000000000000000000000fs">5</span></span></div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Amendments to IAS <span id="fs_VNO8SJSB5C00000000000000000000fs">21</span> – Lack of Exchangeability</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">August</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2023, the IASB published “Lack of Exchangeability (Amendments to IAS <span id="fs_7HZYF1QJWG00000000000000000000fs">21</span>)” with new guidance to determine when a currency is exchangeable or not, and how to determine the exchange rate to apply when a currency is not exchangeable. The amendments also require the disclosure of additional information when a currency is not exchangeable. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The amendments are effective for annual periods beginning on or after January 1, 2025, with early adoption permitted and without retrospective application.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These amendments do not have a material impact on the Company’s operations or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Consolidated F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">inancial </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatements.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">No o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ther a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ccounting pronouncements became effective during <span id="fs_W3W7HMIZSW00000000000000000000fs">2025</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_4KN5JKLG0000000000000000000000fs">2</span>)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">     </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">New accounting pronouncements not applicable as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_OYDJLOO0PC00000000000000000000fs">5</span></span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">IFRS <span id="fs_O843MAA9MO00000000000000000000fs">18</span> - Presentation and Disclosures in Financial Statements</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In April 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NUT2UFFF9C00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the IASB published IFRS <span id="fs_W3OPWDVVB400000000000000000000fs">18</span>, that will replace IAS <span id="fs_CX8YAE54DS00000000000000000000fs">1</span> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">P</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">resentation of financial statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. IFRS <span id="fs_C6QB0QFHQO00000000000000000000fs">18</span> introduces</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> new requirements that will help to achieve comparability of the financial performance of similar entities and provide more relevant information and transparency to users. Even though IFRS <span id="fs_NJEU1T9F0W00000000000000000000fs">18</span> will not impact the recognition or measurement of items in the financial statements, its impact</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on presentation and disclosure are expected to be </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">extensive</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, in particular those related to the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">income statement, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">statement of financial </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">position, statement of cash flows </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the inclusion of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> management-defined performance measures within the financial statements.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> will apply the new standard from its mandatory effective date of January</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_ALBZGFE2C000000000000000000000fs" style="line-height: inherit;">2027</span>. Retrospective application is required, and so the comparative information for the financial year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ending December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5LWK2GO58W00000000000000000000fs" style="line-height: inherit;">2026</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and December 31, 2025 will be restated in accordance with IFRS <span id="fs_P58ME73D7400000000000000000000fs" style="line-height: inherit;">18</span>.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Other </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">new</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ly published</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> accounting standards, amendments to accounting standards and interpretations are not mandatory for December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LPLEX9E6G000000000000000000000fs" style="line-height: inherit;">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> reporting periods and have not been early adopted by the Company. These standards, amendments or interpretations are not expected to have a material impact in the current or future reporting periods and on foreseeable future transactions.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">B<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">      </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Group accounting</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_0VN2VMGN8W00000000000000000000fs">1</span>)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">     </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Subsidiaries and transactions with non-controlling interests</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Subsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In some cases, the Company considers that it has the ability to affect returns through its power over an entity even if it holds less than 50% of the shares or voting rights of the subsidiary because it is able to prevail at all of the subsidiary’s general meetings, which in turn allows Tenaris to nominate and appoint a majority of the subsidiary’s board of directors.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Subsidiaries are fully consolidated from the date on which control is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">obtained</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> by the Company and are no longer consolidated from the date control ceases.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div> <div id="t_ft_JF8C8U0J2O00000000000000000000b"> </div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">acquisition</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> method is used to account for the acquisition of subsidiaries by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. The cost of an acquisition is measured as the fair value of the assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">transferred</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, equity instruments </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">issued,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and liabilities incurred or assumed at the date of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">exchange</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Acquisition-related costs are expensed as incurred.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Identifiable assets acquired</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> liabilities and contingent liabilities assumed in a business combination are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">generally </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">measured initially at their fair values at the acquisition date</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Any non-controlling interest in the acquiree is measured either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">identifiable </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">assets. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The excess of the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> aggregate of the</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">consideration transferred</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the amount of any non-controlling interest in the acquiree</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">over the fair value of the identifiable net assets acquired is recorded as goodwill. If </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">this</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> bargain purchase</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Contingent consideration is classified either as equity or a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">financial liability. Amounts classified as a financial liability are subsequently remeasured </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">at</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> fair value </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">through </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">profit or loss.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquire</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ransactions with non-controlling interests </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">that do not result in a loss of control</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are accounted</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as transactions with equity owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">When the Company ceases to have control, any retained interest in the entity is remeasured to its fair value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the change in carrying amount</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, net of consideration received (if any),</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Material intercompany transactions</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">balances </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and unrealized gains (losses) on transactions </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">between Tenaris subsidiaries have been eliminated in consolidation. However, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">since</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the functional currency of some subsidiaries </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s respective local currency, some financial gains (losses) arising from intercompany transactions</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are generated. These</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are included in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">inancial results</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 12pt 54pt; break-after: avoid; text-align: justify; text-indent: -54pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_U3BXTKJDSG00000000000000000000fs">2</span>)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">     </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Non-consolidated companies</span></h2> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Investments in non-consolidated companies </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">comprises </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">associates, which generally involve a shareholding of between 20% and 50% of the voting rights, and joint ventures</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Associated companies are those entities in which Tenaris exerts significant influence in accordance with IFRS but does not have control.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Associates are accounted for using the equity method.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Joint arrangements are combinations in which there are contractual agreements by virtue of which <span id="fs_11GXHQ8ZXS00000000000000000000fs" style="line-height: inherit;">two</span> or more partner companies hold an interest in <span id="fs_M1WG0KA89C00000000000000000000fs" style="line-height: inherit;">one</span> or more companies that undertake operations or hold assets in such a way that any financial or operating decision is subject to the unanimous consent of the partners (as defined by IFRS <span id="fs_GW1NUCDWXS00000000000000000000fs" style="line-height: inherit;">11</span> “Joint Arrangements”). A joint arrangement is class</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ifie</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d as a joint operation if the parties hold rights to its assets and have obligations in respect of its liabilities or as a joint venture if the venturers hold rights only to the investee's net assets.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris recognizes the assets, liabilities, revenues and expenses relating to its interest in a joint operation in accordance with the IFRS applicable to the particular asset, liability, revenue and expense. Joint ventures are accounted for using the equity method.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div> <div id="t_ft_TU2WSYXU0W00000000000000000000b"> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Under the equity method</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of accounting</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(as defined by IAS <span id="fs_77WBPJ2JCG00000000000000000000fs" style="line-height: inherit;">28</span>, “Investments in Associates and Joint Ventures”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, investments are initially recognized at cost and adjusted thereafter to recognize Tenaris’s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris’s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company’s investment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in non-consolidated companies includes goodwill identified in acquisition</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, if any</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, net of any accumulated impairment loss.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">If material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated to the extent of Tenaris’s interest in the non-consolidated companies. Unrealized losses are also eliminated unless the transaction provides evidence of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">a reduction in the net realizable value, or of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">an impairment indicator of the asset </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">sold or contributed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">. Financial statements of non-consolidated companies </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> adjusted where necessary to ensure consistency with IFRS.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">The Company’s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income Statement under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Equity in earnings</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">of non-consolidated companies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">. The Company’s pro-rata share of changes in other comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">The main investments in non-consolidated companies are:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -18pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">a)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">       </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Ternium</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">At December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_J1SQ2RKBJK00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_WRX5SUUN2O00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_60N3ZLM7EO00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">, Tenaris h</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">ld </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">11.46</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">%</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">in the share capital </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Ternium S.A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Ternium</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> representing 11.70% of its outstanding shares</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">. The following factors and circumstances evidence that Tenaris has significant influence </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">over Ternium</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">:</span></p> <ul style="font-family: 'times new roman', times; font-size: 10pt;"> <li style="font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 4.62pt; text-align: justify; text-indent: 0px; margin-left: -12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TLIJ013KF400000000000000000000fs">three</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> out of</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IK3O1X8TJK00000000000000000000fs">eight</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> members of Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oard of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">irectors (including Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">hairman) are also members of t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he Company’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oard of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">irectors</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">;</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">and</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 4.62pt; text-align: justify; text-indent: 0px; margin-left: -12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">both the Company and Ternium are under the indirect common control of San Faustin S.A. (“San Faustin”) and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nder the shareholders</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">’</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> agreement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">dated January 9, 2006, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">by and between </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company and Techint Holdings S.àr.l</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ("Techint")</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, a wholly owned subsidiary of San Faustin </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">controlling</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shareholder, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Techint</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is required to take actions within its power to cause</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (a) <span id="fs_4P7KXT5EYO00000000000000000000fs">one</span> of the members of Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oard of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">irectors to be nominated by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and (b) any director nominated by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to be removed </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from Ternium’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oard of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">irectors </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">only </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">pursuant to previous written instructions of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">b)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">       </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Usiminas</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 10pt; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DQSYG8A2U800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Tenaris he</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ld, through its Brazilian subsidiary Confab Industrial S.A. (“Confab”), </span>47.5<span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million ordinary shares and 1.3 million preferred shares of Usinas Siderúrgicas de Minas Gerais S.A. (“Usiminas”), representing </span><span style="border-left: none; border-right: none;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;">6.76</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% of its shares with voting rights and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">3.96</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% of its total share capital. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Confab’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">participation in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Usiminas share</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> capital is the result of a series of acquisitions, the first of which was </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">performed on January 16, 2012, pursuant to which Ternium (through certain of its subsidiaries) and Confab acquired a large block of Usiminas ordinary shares and joined Usiminas’ existing control group. Subsequently, in <span id="fs_ULNORIFVGG00000000000000000000fs">2016</span>, Ternium and Confab subscribed to additional ordinary shares and to preferred shares.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On July 3, 2023, Confab, together with Ternium (through its subsidiaries Ternium Investments and Ternium Argentina), acquired additional ordinary shares.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 10pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Usiminas control group comprises the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T/T Group</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, formed by Ternium Investments, Ternium Argentina and Confab; the NSC Group, comprising Nippon Steel Corporation, Mitsubishi and MetalOne; and Usiminas’ employee pension fund, Previdência Usiminas. At December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4PD3DE1RGW00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Usiminas control group held, in the aggregate, 483.6 million ordinary shares, representing approximately 68.6% of Usiminas’ voting capital and the T/T Group held an aggregate participation of 61.3% in the control group (with 51.5% of the control group’s participation corresponding to Ternium’s subsidiaries, and remaining </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">9.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% corresponding to Confab); the NSC Group and Previdência Usiminas held 31.7% and 7%, respectively, in the control group.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Upon </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">closing</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of the July 3, 2023 acquisition</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">then </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">existing Usiminas shareholders agreement </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">governing the relationship between the T/T Group, the NSC Group and Previdência Usiminas </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">was replaced by a new shareholders agreement setting forth a new governance structure for Usiminas. The T/T Group is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">now </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">entitled to nominate a majority of the Usiminas board of directors, the chief executive officer and four other members of the Usiminas board of officers. Of the positions allocated to the T/T Group, Tenaris retains the right to nominate one member of the Usiminas board of directors and one member of the Usiminas board of officers. Ordinary decisions may be approved with a 55% majority of Usiminas’ control group shares. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 10pt; margin: 0px; text-align: justify; text-indent: 0px;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The members of the Usiminas control group also agreed that, a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t any time after the second anniversary of the closing of the transaction, the T/T Group </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">would</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> have the right to buy the NSC Group’s remaining interest in the Usiminas’ control group (153.1 million ordinary shares) at the higher of $2.0584 per share and the equivalent in U.S. dollars of the 40-trading day average price per share immediately prior to the date of exercising the option. In addition, the NSC Group </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">would</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> have the right, at any time after the closing of the transaction, to withdraw its remaining shares from the control group and sell them in the open market after giving the T/T Group the opportunity to buy them at the equivalent in U.S. dollars of the 40-trading day average price </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">per share immediately prior to the NSC group’s notice of withdrawal, as well as the right, at any time after the second anniversary of the closing, to sell such shares to the T/T Group at $2.0584 per share. Confab </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">had</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the right (but not the obligation) to participate in each such transaction pro rata to its current participation in the T/T Group.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> On November 5, 2025, Ternium Investments entered into a share purchase agreement to acquire from Nippon Steel Corporation and Mitsubishi Corporation their remainder participations in the control group, at the price per ordinary share that the parties had agreed upon for the option transaction described above. Confab declined to participate in this transaction. The transaction </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">closed on February 10, 2026</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the date of these Consolidated Financial Statements, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the T/T group </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">holds</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> an aggregate participation of 92.9% in Usiminas’ control group (with Confab’s participation representing </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">9.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% of the control group)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Previdência Usiminas (Usiminas employees’ pension fund) hold</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the remai</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ning</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7.1%.</span><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Confab and the Ternium entities party to the Usiminas shareholders agreement have a separate shareholders agreement governing their respective rights and obligations as members of the T/T Group. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Under s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">uch separate agreement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Confab enjoys certain rights with respect to the governance of Usiminas, including, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">among</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> others, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the ability to nominate certain Usiminas’ officers and directors</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Those circumstances evidence that Tenaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">continues having </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">sign</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ificant influence over Usiminas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and, as a result, continues accounting for its investment under the equity method.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">c)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">       </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Techgen</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Techgen S.A. de C.V. (“Techgen”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, which operates an electric power plant in Mexico,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is a joint venture company owned 48% by Ternium, 30% by Tecpetrol International S.A.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (“Tecpetrol”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and 22% by Tenaris. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Ternium and Tecpetrol are parties to a shareholders’ agreement relating to the governa</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nce of Techgen and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are under the indirect com</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mon control of San Faustin</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris carries its investment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s in non</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">consolidated companies</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the equity method, with no additional goodwill</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or step-up</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized. Tenaris reviews investments in non-consolidated companies for impairment whenever events or changes in circumstances indicate that the asset’s carrying amount may not be recoverable. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For more information s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ee n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ote </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6WOF5AMH2800000000000000000000fs">14</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to these Consolidated Financial Statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> 0.50 0.20 0.50 0.1146 0.117 47500000 1300000 0.0676 0.0396 483600000 0.686 0.613 0.515 0.098 0.317 0.07 4 1 1 0.55 153100000 2.0584 40 40 2.0584 0.929 0.098 0.071 0.48 0.30 0.22 <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">C     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Segment information</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company is organized in one major business segment, Tubes, which is also the reportable operating segment. All other business activities and operating segments that are not required to be separately reported are disclosed in the Other segment.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Tubes segment includes the production and sale of steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods (“OCTG”) used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. Business activities included in this segment are mainly dependent on the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> worldwide</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> oil and gas industry, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. Demand for steel pipe products from the oil and gas industry has historically been volatile and depends primarily upon the number of oil and natural gas wells being drilled, completed and reworked, and the depth and drilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally managed global distribution network and domestic sales are made through local subsidiaries.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Other segment includes all business activities related to the production and selling of sucker rods, coiled tubing, tubes used for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">plumbing and construction</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> applications, oilfield / hydraulic fracturing services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and others as energy and raw materials that exceed internal requirements.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Chief Operating Decision Maker (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CODM</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”)</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reviews </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">operating and financial performance information </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">with senior management on a monthly basis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. This </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">information differ</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> from IFRS principally as follows:</span></p> <ul style="font-family: 'times new roman', times; font-size: 10pt; padding-inline-start: 16px;"> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.27pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, including absorption of production overheads and depreciation;</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.27pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated at historical cost</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, mainly on a FIFO basis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">;</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.27pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ny currency translation adjustment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">classification</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, when applicable, for companies that under IFRS had a different functional currency than the U.S. dollar;</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">and</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.27pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ther timing differences, if any.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> presents</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> its geographical information in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_M288V26KU800000000000000000000fs">four</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> areas:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> North America,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> South America, Europe</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Asia Pacific</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Middle East and Afri</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ca</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. For purposes of reporting geographical information, net sales are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">allocated</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to geographical areas based on the customer’s location;</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> allocation of assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> based on the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ir</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">geographical</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> location</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> 1 <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">D     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Foreign </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">c</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">urrency </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">t</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">ranslation</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 35.45pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -35.45pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_ZNPX5RL7NK00000000000000000000fs">1</span>)<span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">    </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Functional</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> and presentation</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> currency</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">IAS </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QAP9OVJFPC00000000000000000000fs">21</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“The effects of changes in foreign exchange rates” </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">defines the functional currency as the currency of the primary economic environment in which </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">an </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">entity operates.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The functional </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and presentation </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">curren</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">y of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is the U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. The U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is the currency that best </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reflects the economic substance of the underlying events and circumstances relevant to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> global operations. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Starting January 1, 2023, the Company changed the functional currency of its Brazilian subsidiaries, from the Brazilian Real to the U.S. dollar.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div style="font-family: 'times new roman', times;"> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">E</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">xcept f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the Italian subsid</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">iaries whose functional currency</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Euro</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and two subsidiaries wh</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ose</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> functional currencies are the Canadian Dollar and the Norwegian Krone</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris determined that the functional currency of its</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> other subsidiaries </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is the U.S. dollar, based on the following principal considerations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <ul style="font-size: 10pt; padding-inline-start: 2px;"> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ales are mainly negotiated, denominated and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">/or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> settled in U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. If priced</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in a currency other than the U.S. dollar, the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">sales </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">price </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">may consider</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> exposure to fluctuation in the exchange rate </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">against</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the U.S. dollar;</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rices of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">their </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">critical raw materials and inputs are priced and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">/or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> settled in U.S. dollars; </span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ransaction</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and operational</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> environment and the cash flow </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of these </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">operations ha</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ve</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the U.S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as reference currency;</span> </li> <li style="font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">there is a s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ignificant level of integration of the l</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ocal operations within </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">international </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">global distribution network</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">;</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">and</span></li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0pt 0pt 0pt 9.58pt; padding-left: 8.27pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">et financial assets and liabilities are mainly received and maintained in U.S. dollars</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 6pt 0pt 0pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_XWR94HZSV400000000000000000000fs">2</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Transactions in currencies other than the functional currency</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuati</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">on where items are re-measured.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> the fair value was determined.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: normal; line-height: inherit;">Other financial results</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> in the Consolidated Income Statement, except when deferred in equity as qualifying cash flow hedges and qu</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">alifying net investment hedges.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_APPD6JI6B400000000000000000000fs">3</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Translation of financial information in currencies other than the functional currency</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Results of operations for subsidiaries whose functional currencies are not the U.S. dollar are translated into U.S. dollars at the average exchange rates for each quarter of the year. Financial statement positions are translated at the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-end exchange rates. Translation differences are recognized in a separate component of equity as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">urrency </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ranslation </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">djustment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. In the case of a sale or other disposal of any of such subsidiaries, any accumulated translation difference would be recognized in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Consolidated Income Statement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as a gain or loss from the sale</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or disposal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> following IAS <span id="fs_8T4V5YFZUO00000000000000000000fs">21</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Goodwill and fair value adjustments arising from the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">exchange </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rate.</span></p> 2 <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">E     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Property, plant and equipment</span></h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Property, plant and equipment are recognized at historical acquisition or construction cost</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> less accumulated depreciation</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and impairment losses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. H</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">istorical cost includes expenditure that is directly attributable to the acquisition of the items</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Property</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">lant</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quipment acquired through</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">acquisitions accounted for as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">business </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">combination</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">have been valued </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">initially </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">at the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">market </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">value of the assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">acquired.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Major overhaul and rebuilding expenditures</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are capitalized as property, plant and equipment only when </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">it is probable that future economic benefits associated with</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the item will flow to the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the investment enhances the condition of assets beyond its original condition.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The carrying amount of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">any</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> replaced part</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is derecognized</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">M</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">aintenance expenses on manufacturing properties are recorded as cost of products sold in the year in which they are incurred.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Cost may also include transfers fro</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">m equity of any gains or losses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Borrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as part of the cost of the asset, in accordance with</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> IAS <span id="fs_VM1V0UOT6800000000000000000000fs">23</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“Borrowing Cost</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ssets for which borrowing costs are capitalized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are those that require a substantial period of time to prepare for their intended use.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">epreciation method is reviewed at each year end. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Depreciation</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is calculated using the straight-line method to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">depreciate </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the cost of each asset to its residual value over its estimated useful life</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, as follows:</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_4WKPN7YUKG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0pt;" width="100%"> <tbody> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Land </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> No Depreciation </span></p> </td> </tr> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Buildings and improvements </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 30-50 years </span></p> </td> </tr> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Plant and production equipment </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 10-40 years </span></p> </td> </tr> <tr style="height: 1.95pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Vehicles, furniture and fixtures, and other equipment </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 1.4pt; text-indent: -1.4pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 4-10 years </span></p> </td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">’</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">residual values and useful lives of significant plant and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">production </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">equipment are reviewed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and adjusted</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> if appropriate, at each year</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">end</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">date. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">An asset’s carrying amount is written down to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management’s re</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">estimation of asset</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> useful </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">lives</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, performed </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in accordance with IAS <span id="fs_SC9QP529Y800000000000000000000fs">16</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> “Property</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Plant and E</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quipment”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">resulted in additional depreciation expenses </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">approximately</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">20.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in <span id="fs_GNQ91NZCZ400000000000000000000fs">2025</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">25.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_OEUNLKOAOW00000000000000000000fs">2024</span>,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">did not materially affect depreciation expenses in <span id="fs_UMI7XN0LO000000000000000000000fs">2023</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> depreciates each significant part of an item of property, plant and equipment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">for its different production facilities </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">that (i) can be properly identified as an independent component with a cost that is significant in relation to the total cost of the item, and (ii) has a useful operating life that is different from another significant part of that same item of property, plant and equipment.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Gains and losses on disposals are determined by comparing the proceeds with the carrying amount of assets and are recognized under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other operating income </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other operating expenses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement.</span></p> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0pt;" width="100%"> <tbody> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Land </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> No Depreciation </span></p> </td> </tr> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Buildings and improvements </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 30-50 years </span></p> </td> </tr> <tr style="height: 5.5pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Plant and production equipment </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 10-40 years </span></p> </td> </tr> <tr style="height: 1.95pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 4.92%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 54.22%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Vehicles, furniture and fixtures, and other equipment </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 40.86%; box-shadow: none;"> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 1.4pt; text-indent: -1.4pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 4-10 years </span></p> </td> </tr> </tbody> </table> P30Y P50Y P10Y P40Y P4Y P10Y 20100000 25200000 <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">F     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Intangible assets</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_35IDD5JJJK00000000000000000000fs">1</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Goodwill </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Goodwill represents the excess of the acquisition cost </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">over the fair value of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> share of net identifiable assets acquired as part of business combinations determined mainly by independent valuations. Goodwill is tested </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">at least </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">annually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are not reversed. Goodwill is included </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> the Consolidated Statement of Financial Position under </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Intangible assets, net.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">For the purpose of impairment testing, g</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">oodwill is allocated to a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">cash generating unit (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">CGU</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> or group of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">CGUs</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> that </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">are expected to benefit from the business combination which generated the goodwill being tested.</span></p> <h3 style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; text-indent: -36pt;"><br/></h3> <h3 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_7WDEG1MW2O00000000000000000000fs">2</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Information systems projects</span></h3> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Costs associated with maintaining computer software programs are generally recognized as an expense as incurred. However, costs directly related to the development, acquisition and implementation of information systems are recognized as intangible assets if it is probable that they have economic benefits exceeding <span id="fs_A3Y1EAX8AO00000000000000000000fs">one</span> year and comply with the recognition criteria of IAS <span id="fs_AKVH0OPS5C00000000000000000000fs">38</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“Intangible Assets”.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Information systems projects recognized as assets are amortized using the straight-line method over their useful lives, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">generally </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">not exceeding a period of 3 years. Amortization charges are classified as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Cost of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ales</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Selling, general and administrative expenses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management’s re-estimation of assets useful lives, performed in accordance with IAS <span id="fs_UG39WVDAR400000000000000000000fs">38</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">did not materially affect </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">amortization expenses for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6SID2Y7RYO00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BJHS0SGOCW00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZY4P34Z7U800000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4VYD6N7R4000000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_0E2XB6OGJ400000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_686ZVBAWCW00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IU695SI6VK00000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> </p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_Z3PAFUIT8000000000000000000000fs">3</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Licenses, patents, trademarks and proprietary technology </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Licenses, patents, trademarks, and proprietary technology are initially recognized at cost, or at fair value at the acquisition date in case of a business combination. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their estimated useful lives, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which are in the range between <span style="border-left: none; border-right: none;">3</span> and </span>30<span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> years.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization charges are mainly classified as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Cost of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ales</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The balance of acquired t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rademarks</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that have indefinite useful lives according to external appraisal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> amount</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">86.7</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XFZQHBTNOG00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PXZT74DJ3400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ITO2KZRBY800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_B3JM5VIG8W00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QV1D8TG96800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IBKIXZJI6800000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_V7Z6N28O4G00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_8ZQGUI5JLC00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JP9C03VRVK00000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">included in Hydril CGU</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Main factors considered in the determination of the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> indefinite useful lives</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> include the years that </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">they have</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> been in service and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">their </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recognition among customers in the industry.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management’s re-estimation of assets useful lives, performed in accordance with IAS <span id="fs_4QVGAIY48000000000000000000000fs">38</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> did no</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t materially affect amortization</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> expenses for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2K2H501OU800000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KR47CJAJ3400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_OV3AJJVLN400000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_YAD5WPY8M800000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VRTT2Q01R400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CGJUBXLOO000000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_CHGHMBGLO000000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VBYX3ZJYM800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IGBUBQWC5S00000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_UUHU6YF24W00000000000000000000fs">4</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Research and development</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Research expenditures as well as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">development costs that do not fulfill the criteria for capitalization are recorded as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Cost of sales</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement as incurred. Research and development expenditures included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Cost of sales</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Z4Y6H9PA0000000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZSUF2KZGI800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CIBHIUXN6800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LXADLC2LLS00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_0MI8J227JK00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_UART7H7FB400000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EPPT5OGP2800000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2I5N7JBWJ400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QYAX77U8F400000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> tota</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">led </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">64.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">74.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">60.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Capitalized costs were not material for the years <span id="fs_D91D9QUNSW00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_R96C8NYWPS00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_80DCAD1L6800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_7K9Q0RIMB400000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4G98IEP3ZK00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ODYYFUNRY800000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_XGJ6RMW95C00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RK9H5QTR1C00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XSLUQ9H07400000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">(<span id="fs_5KSUNMGHZ400000000000000000000fs">5</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">Customer relationship</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">s</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0.85pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">In accordance with IFRS <span id="fs_VIZ4FLDC0000000000000000000000fs">3</span>, "Business Combinations" and IAS <span id="fs_B8F1EPNCOW00000000000000000000fs">38</span>, Tenaris has recognized the value of customer relationships separately from goodwill attributable to the acquisition of Maverick</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Tube Corporation (“Maverick”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> and Hydril</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Company (“Hydril”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> groups, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Saudi Steel Pipe Co. (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">SPC</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> Ipsco Tubulars Inc. (“IPSCO”)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">the more recent </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"><span id="fs_35RYQ0UKJ400000000000000000000fs">2023</span> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">acquisition of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Mattr’s pipe coating business unit</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Customer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">straight-line</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> method over the initial expected useful li</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">v</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">which were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">approximately 14 years for Maverick, 10 y</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ears for Hydril</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> 9 years for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">SSP</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> (subsequently reduced to 7 years)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> for IPSCO</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">, and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">4 months</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> for Mattr’s pipe coating business unit.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management’s re-estimation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">customer relationships</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> useful lives, performed in accordance with IAS <span id="fs_8O6PKPB6YO00000000000000000000fs">38</span>, did not affect amortization expenses for the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DVZT3RW9F400000000000000000000fs">2025</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_URHES72ODC00000000000000000000fs">2024</span> and <span id="fs_C0VVAIU3GG00000000000000000000fs">2023</span>.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0.9pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">As o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">f December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"><span id="fs_XCYHZM6KB400000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"><span id="fs_D1CQ9XT97K00000000000000000000fs">5</span>,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">all the above-mentioned</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">customer relationships </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">we</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">re</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> fully amortized.</span></p> P3Y P3Y P30Y 86700000 86700000 86700000 64200000 74200000 60000000 P14Y P10Y P9Y P7Y P3Y P4M <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">G     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Right-of-use assets and lease liabilities</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">principal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the lease</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> term on a straight-line basis.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Lease liabilities include the net present value of i) fixed payments, less any lease incentives receivable, ii) variable lease payments that are based on an index or a rate, iii) amounts expected to be payable by the lessee under residual value guarantees, iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.</span> </p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment wit</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">h similar terms and conditions.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Right-of-use assets are measured at cost comprising the amount of the initial measurement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">lease liability, any lease payments made at or before the commencement date less any lease incentives </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">received,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and any initial direct costs incurred by the lessee.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or early termination</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, or not </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Variable lease payments are not included in the measurement of the lease liability and p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ayments associated with short-term leases</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, variable leases</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and leases of low</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">value assets are recognized on a straight-line basis as expenses in profit or loss. Short-term leases are leases with a lease term of 12 months or less.</span></p> P12M <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">H     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Impairment of non-financial assets</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Long-lived assets including </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">identifiable intangible assets are reviewed for impairment at the lowest level for which there are separately identifiable cash flows</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CGU. Most of the Company’s principal subsidiaries that constitute a CGU have a single main production facility and, accordingly, each of such subsidiaries represents the lowest level of asset aggregation that generates largely independent cash inflows.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Assets that are subject to amortization or depreciation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Intangible assets with indefinite useful lives, including goodwill, are subject to at least an annual impairment test, or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are tested</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> more frequently if events or circumstances indicate that the carrying amount value may be impaired. In some </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">situations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> where there have not been significant changes to CGU assets and liabilities as well as external and internal </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">events and circumstances </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which could materially alter the recoverable amount of the CGU, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the most recent detailed calculation of recoverable amount made in a preceding period may be used in the impairment test for that </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CGU</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the current period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For purposes of assessing key assumptions, the Company uses external sources of information and management judgment based on past experience and expectations. Material facts and circumstances specifically considered in the analysis usually include the discount rate used in Tenaris’s cash flow projections and the business condition in terms of competitive, economic and regulatory factors, such as the cost of raw materials, oil and gas prices, and the evolution of the rig count.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris’s main source of revenue is the sale of products and services to the oil and gas industry, and the level of such sales is sensitive to international oil and gas prices and their impact on drilling activities. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management has determined the value of each of the key assumptions as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Discount rate: based on the applicable weighted average cost of capital (“WACC”), which is considered to be a good indicator of capital cost, taking into account the industry, country and size of the business. For each CGU where assets are allocated, a specific WACC was determined.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Growth rate: considers mainly the inflation impact on prices and costs, the long-term evolution of the oil and gas industry, the higher demand to offset depletion of existing fields and the Company’s expected market penetration.</span> </p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Oil and gas prices: based on industry analysts’ reports and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">management’s expectations of market development.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Rig count: based on information published by Baker Hughes and management’s expectations.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">- Raw material costs: based on industry analysts’ reports and management’s expectations.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher between the asset’s value in use and fair value less costs of disposal. Any impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -14.15pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(a) first, to reduce the carrying amount of any goodwill allocated to the CGU; and</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -14.15pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(b) then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset in the unit (group of units), considering not to reduce the carrying amount of the asset below the highest of its fair value less cost of disposal, its value in use or <span id="fs_ABOAPXXFY800000000000000000000fs">zero</span>.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Value </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">use is calculated by discounting the estimated cash flows over a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="-sec-ix-hidden:Tag11"><span style="border-left: none; border-right: none;">five</span>-year</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> period (or higher if the period can be justified) based on forecasts approved by management. For the subsequent years beyond the <span id="fs_3J9E9F3HA800000000000000000000fs">five</span>-year period, a terminal value is calculated based on perpetuity considering a nominal growth rate of 2% taking into account among others, mainly the historical inflation rate.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">For purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows that a market participant could generate from the corresponding CGU.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management judgment is required to estimate discounted future cash flows. Actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using discounting techniques.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each reporting date. For more information on impairment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">charges see note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ADSJQYBRR400000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to these</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated Financial Statements.</span></p> 0.02 <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">I     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Other </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">i</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">nvestments</span></h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">O</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ther investments consist primarily of investments in financial instruments</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and time deposits with a maturity of more than </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_289F6MLVEO00000000000000000000fs">three</span> months</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at the date of purchase</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Certain non-derivative financ</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ial assets that the Company held not for trading</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> have been categorized as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">financial assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">at </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value through other comprehensive income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (“FV</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">OCI</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as the business model objective is achieved by both holding financial assets in order to collect contractual cash flows and selling financial assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. They are carried at </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">omprehensive </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Income and transferred to the C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement when the financial asset is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">disposed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Exchange gains and losses and impairments related to the financial assets are immediately recognized in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement. F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">V</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">OCI</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> instruments with maturities greater than 12 months after the balance sheet date a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re included in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> non-current assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Other investments in financial instruments may be classified as financial assets at fair value through profit or loss (“FVPL”) when such investments are held for trading, or when their performance is evaluated on a fair value basis. Other investments in time deposits may be classified as financial assets measured at amortized cost when the Company’s intention is to hold these investments until maturity. The results of these investments are recognized within </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Financial Results</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Purchases and sales of financial investments are recognized as of the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ir</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">settlement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> date</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">The fair values of quoted investments are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">generally </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">based on current bid prices. If the market for a financial investment is not active or the securities are not listed, Tenaris estimates the fair value by using standard valuation techniques</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">. S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ee s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ectio</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">n III Financial Risk Management</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">.</span></p> P12M <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">J     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Inventories</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Inventories are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">measured</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at the lower between cost and net realizable value. The cost of finished goods and goods in process is comprised of raw materials, direct labor, utilities</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, freights</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and other direct costs and related production overhead costs, and it excludes borrowing costs. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">llocation of fixed production costs</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, including depreciation and amortization charges,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is based on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> normal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> level of production capacity. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Inventories</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> cost is mainly based on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">FIFO method. Tenaris estimates </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net realizable value of inventories by grouping, where applicable, similar or related items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated costs of completion and selling expenses. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">G</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oods in transit </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> year</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">end are valued based on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">supplier’s invoice cost.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris establishes an allowance for obsolete or slow-moving inventories related to finished goods, supplies and spare parts. For slow moving or obsolete finished products, an allowance is established based on management’s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies and spare parts is established based on management's analysis of such items to be used as intended and the consideration of potential obsolescence due to technological changes, aging and consumption patterns.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">K     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Trade </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">and other </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">receivables</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Trade and other receivables are recognized initially at</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> fair value that corresponds to</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> the amount of consideration that is unconditional unless they contain significant financing c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">omponents. The Company holds</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> trade receivables with the objective to collect the contractual cash flows and therefore measu</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">res them subsequently at amortiz</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ed cost using the effective interest method. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Due to the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ir</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> short-term nature, their carrying amount is considered to be the same as their fair value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Tenaris applies the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> IFRS <span id="fs_22WN5MZ03K00000000000000000000fs">9</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> “Financial Instruments”</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">simplified approach to measure</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> expected credit losses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based on the payment profiles of sales over a period of three years</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> and the corresponding historical credit losses exp</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">erienced within this period. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">The expected loss allowance also reflects current and forward-looking information on macroeconomic factors affecting the ability of each customer to settle the receivables.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">A credit account is typically considered in default when the customer has failed to make the required minimum payments for an extended period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> of time</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">. Management considerations, including customer-specific analyses, are carried out to determine if an allowance has to be allocated to the credit. Following impairment, collection is monitored and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">impairment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">reversed in case of receipt of the payment.</span></p> P3Y <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">L     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash and cash equivalents</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Cash and cash equi</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">valents are comprised of cash at</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> banks, liquidity funds and short-term investments with a maturity of less than <span id="fs_63T3GPBZCW00000000000000000000fs">three</span> months at the date of purchase which are readily convertible to known amounts of cash</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> which are subject to an insignificant risk of changes in value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">. Assets recorded in cash and cash equivalents are carried at fair market value or at historical cost which </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">approximates fair market value.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">In the Consolidated Statement of Financial Position, bank overdrafts are included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;">Borrowings</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> in current liabilities.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">For the purposes of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">Consolidated Statement of C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">ash </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">low</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;">ash and cash equivalents</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> includes </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">overdrafts</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">M     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">E</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">quity</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_SKZ71O59TS00000000000000000000fs">1</span>)    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Equity</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> components</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">hanges in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">E</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quity include</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <ul style="font-family: 'times new roman', times; font-size: 10pt; padding-inline-start: 16px;"> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.42pt; text-align: justify; text-indent: 0px;"><span style="margin-left: 0pt; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the value of share capital, legal reserve and share premium calculated in accordance with Luxembourg law;</span> </li> <li style="font-family: Wingdings; font-size: 10pt; font-style: normal; line-height: 12pt; margin: 0px; padding-left: 8.42pt; text-align: justify; text-indent: 0px;"><span style="margin-left: 0pt; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the currency translation adjustment, treasury shares, other reserves, retained earnings and non-controlling interest calculated in accordance with IFRS.</span> </li> </ul> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_H5YVPRXEZK00000000000000000000fs">2</span>)</span><span style="line-height: inherit;"><span>    </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Share cap</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">it</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">al</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.00 per share. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Total ordinary shares issued as of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AEYL8JN4TC00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JAW3E2UCHC00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_DNSBLO6APC00000000000000000000fs">2024</span> and <span id="fs_O81PIWHLZK00000000000000000000fs">2023</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,071,994,930</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,162,757,528</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,180,536,830</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> with a par value of $1.00 per share with one vote each.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Total ordinary shares outstanding as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_X7FEZ3K60G00000000000000000000fs">5</span>, <span id="fs_5V6VVYOK7400000000000000000000fs">2024</span> and <span id="fs_P1TI7IGCV400000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4287KAIRN400000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">we</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,011,823,958</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,084,272,191</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,167,888,739</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> with a par value of $1.00 per share with one vote each. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Outstanding shares do not include treasury shares. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">All issued shares are fully paid.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_7DCCPQ8EF400000000000000000000fs">3</span>) </span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">   </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Treasury Shares</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Acquisitions of treasury shares are recorded at acquisition cost, deducted from equity until disposal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or cancellation</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Any potential</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> gains </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">or</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> losses on disposal of treasury shares </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Changes in Equity</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Treasury shares as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AORZ9AJ4XC00000000000000000000fs">5</span>, <span id="fs_SOAW1SJ6KG00000000000000000000fs">2024</span> and <span id="fs_CVQWVRLCF400000000000000000000fs">2023</span>,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">we</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">60,170,972</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">78,485,337</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">12,648,091</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_W73NSMSZOW00000000000000000000fs">4</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">    </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Dividends distribution by the Company to shareholders </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Dividends distributions are recorded in the Company’s financial statements when Company’s shareholders have the right to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with the by-laws of the Company.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Dividends may be paid by the Company to the extent that it has distributable retained earnings, calculated in accordance with Luxembourg law. S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ee </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ote</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_63W9OB3I9S00000000000000000000fs">27</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (iii)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> these Consolidated Financial Statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> 2500000000 1 1071994930 1162757528 1180536830 1 1 1 1 1 1 1011823958 1084272191 1167888739 1 1 60170972 78485337 12648091 <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">N     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Borrowings</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 11pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Borrowings are recognized initially at fair value net of transaction costs incurred and subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">O    </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Current and d</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">eferred income tax</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The income tax expense or credit for the period is the tax payable</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or recoverable</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Both c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">urrent and deferred t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ax </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized in the Consolidated Income Statement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Income </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ax</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, except </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to the extent that it relates to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">items recognized in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">other comprehensive income or directly in equity.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">In these cases, the tax is also recognized in other comprehensive income or directly in equity, respectively.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The current income tax charge is calculated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">based on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the tax laws enacted or substantively enacted at the reporting date in the countries where the Company’s subsidiaries operate and generate taxable income.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred income tax is recognized applying the liability method on temporary differences arising between the tax bas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s of assets and liabilities and their carrying amounts in the financial statements. The temporary differences arise </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mainly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net operating loss carry-forwards, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the effect of currency translation on depreciable fixed assets and inventories, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">valuation of inventories</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">depreciation on property, plant and equipment, provisions for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">post-employment benefits and other long-term employee benefits</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value adjustments of assets acquired in business combinations. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets and liabilities are measured at the tax rates that are expected to apply </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> period when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">by the end of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reporting </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Company measures its tax balances either based on the most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets are recognized to the extent</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> it is probable that future taxable </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">profits</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> will be available</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> against which the te</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mporary differences </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and losses </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">can be utiliz</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At the end of each reporting period, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> reassesses </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">unrecognized</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> deferred tax assets. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recognizes</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a previously </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">unrecognized</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> deferred tax asset to the extent that it has become probable that future taxable </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> will allow the deferred tax asset to be recovered.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liabilities</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are not recognized for temporary differences </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">arising from the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">carrying amount and t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ax basi</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s of investments in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">subsidiaries, branches and associates, and interests in joint ventures, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">if</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ompany is able to control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable future.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and liabilities are re-measured</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> if tax rates change. These amounts </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are charged or credited to the Consolidated Income Statement or to the item </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">O</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ther co</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">mprehensive income </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Comprehensive I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome, depending on the account to which the original </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">amount was charged or credited.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Pillar <span id="fs_JIYEGV47N400000000000000000000fs">Two</span> legislation was </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">adopted in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Luxembourg</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nd </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ca</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">me into effect </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">January 1, 2024</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">within the scope of these rules</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">herefore, is required to calculate its GloBe effective tax rate for each jurisdiction </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in which it is present</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and is liable to pay a top-up tax for the difference between its Glo</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">B</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e effective tax rate per jurisdiction and the 15% minimum rate. <span style="border-left: none; border-right: none;">Tenaris applies the IAS 12 exception regarding the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes.</span></span></p> 0.15 Tenaris applies the IAS 12 exception regarding the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes. <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">P     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Employee benefits</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 22.5pt; text-align: justify; text-indent: -22.5pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_YBINLZ3T2800000000000000000000fs">1</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">      </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Short-term obligations</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Liabilities for wages and salaries are recognized in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Consolidated B</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">alance </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">heet.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 22.5pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -22.5pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_9OTDPVAXE800000000000000000000fs">2</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">      </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Post</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">employment benefits</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement, usually dependent on <span id="fs_PQVI89KMS000000000000000000000fs">one</span> or more factors such as age, years of service and compensation.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets, if any. </span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">When</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the fair value of the plan assets exceeds the value of the defined benefit obligation</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the surplus</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is recognized in the statement of financial position as other receivables non-current. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The defined benefit obligation is calculated annually (at year end) by independent actuaries using the projected unit credit method. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The present value of the defined benefit obligation is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mainly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">determined by discounting the estimated future cash flows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other comprehensive income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the period in which they arise. Past-service costs are recognized immediately in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income Statement.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For defined benefit </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">funded </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">plans, net interest income</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">/</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">expense is calculated based on the surplus or deficit derived by the difference between the defined benefit obligations less fair value of plan assets. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For defined contribution plans, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has no further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expenses when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><br/></p> <div style="font-family: 'times new roman', times;"> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris sponsors funded and unfunded defined benefit pension plans in certain subsidiaries. The most significant are:</span></p> <ul style="list-style-type: disc; padding-inline-start: 16px;"> <li class="mylistitemclass" style="padding: 0px 0px 10px 10px; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to provide certain benefits to those officers (additional to those contemplated under applicable labor laws) in case of termination of the employment relationship due to certain specified events, including retirement. This unfunded plan provides defined benefits based on years of service and final average salary</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_74MH52K1IO00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ECZ05DIJ6800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the outstanding liabil</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ity for this plan amounts to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">63.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></li> <li class="mylistitemclass" style="padding: 0px 0px 10px 10px; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Employees’ service rescission indemnity</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">cost of this obligation is charged to the Consolidated Income Statement over the expected service lives of employees. This provision is primarily related to the liability ac</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">crued for employees at </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Italian subsidiar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. As from January 1, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4FOUWSI5DS00000000000000000000fs">2007</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">because of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a change in an Italian law, employees were entitled to make contributions to external funds, thus, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Italian subsidiar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> pay every year the required contribution to the funds with no further obligation. As a result, the plan changed from a defined benefit plan to a defined contribution plan effective from that </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">date but</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> only limited to the contributions of <span id="fs_TG2DE7OPSG00000000000000000000fs">2007</span> onwards.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_UFK5WXN9ZK00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JN79XJSAGW00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the outstanding </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liabil</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ity for this plan amounts to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">10.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></li> <li class="mylistitemclass" style="padding: 0px 0px 10px 10px; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Funded retirement benefit plan held in the U</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for the benefit of some employees hir</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed prior a certain date,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> frozen for the purposes of credited service as well as determination of final average pay for the retirement benefit calculation. Plan assets consist primarily of money market </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">funds. Additionally, an unfunded post</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">retirement health and life plan</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in place</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that offers limited medical and life insurance benefits to the retirees, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">frozen to new participants</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A plan termination of the funded retirement benefit plan was initiated during <span id="fs_59EM3QIR1S00000000000000000000fs">2025</span> and is expected to be completed in <span id="fs_FINW6FKM3K00000000000000000000fs">2026</span>.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DCXI2TVM0W00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JSCFR9TX9S00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">outstanding</span><span style="font-size: 10pt; line-height: inherit;"><span> </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liabil</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ity for these</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> plan</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> amounts to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">By their </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nature</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, defined benefit plans expose </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to typical risks such as investment performance, changes to discount rates used to value the obligations, rate of compensation increase (including inflation rates) and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">demographic variables </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> plan members</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Pension and benefit risks are managed by regular monitoring of the plans, applicable regulations and other factors that may impact </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">expenses and cash flows. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The unfunded defined benefit plans </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are met as they fall due and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are managed directly by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, which is entirely responsible for the plans. The funded defined benefit pension plans are governed and administered in accordance with applicable pension legislation in each jurisdiction. Each plan has an overseeing committee. The defined benefit plans are monitored on an ongoing basis to assess the funding and investment policies, financial status, and funding requirements. Significant changes to a plan or policy would be subject to approval by the board of directors of each subsidiary of the Company. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt;"><br/></p> <p style="font-family: 'times new roman', times; line-height: 12pt; margin: 0pt 0pt 0pt 21.3pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -21.3pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_AYH045EPS000000000000000000000fs">3</span>)</span><span style="line-height: inherit;"><span>    </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">O</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">ther long-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">term benefits</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During <span id="fs_U0WZ3RAZVK00000000000000000000fs">2007</span>, Tenaris launched an</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">employee retention and long</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">term incentive program</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Program”) applicable to certain senior officers and employees of the Company, who </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> granted a number of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nits throughout the duration of the Program. The value of each of these </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nits is based on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shareholders’ equity (excluding non-cont</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rolling interest). </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Until </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the end of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DDNJ87PTV400000000000000000000fs">2017</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> u</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nits </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">vest</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ratably over</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a period of four years and were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mandatorily</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> redeemed by the Company ten years after grant date, with the option of an early redemption at seven years after</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> grant date.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Since</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XRI691JSU800000000000000000000fs">2018</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">units </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">vest</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ratably over the same period and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mandatorily redeemed by the</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Company seven years after grant date.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The beneficiaries of the Program are entitled to receive cash amounts based on: (i) the amount of dividend payments made by Tenaris to its shareholders and (ii) the number of units held by each beneficiary to the Program. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The payment of the benefit is tied to the book value of the shares, and not to their market value.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris valued this long-term incentive program as a long</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">term benefit plan as classified in IAS <span id="fs_EAVJHW3EEO00000000000000000000fs">19</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> “Employee Benefits”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5U1QLRNCHS00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Q8ZCMQ114W00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_E9QW0IKFUO00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_1UV56877OW00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_OZNQXYGGOG00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the outstanding liability corresponding to the Program amounts to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">154.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(out of which $50.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million are classified as current liabilities) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">148.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (out of which $46.8 million are classified as current liabilities)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively. The total value of the units granted </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(vested and unvested) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to date under the program, considering the number of units and the book value p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">er share as of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5YEASJ0NCW00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VETWBKGHV400000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_H5HX3KISVK00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EQSPAFF4I800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CDR39A2WMO00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, is $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">181.0</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">175.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, respectively.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <div style="font-family: 'times new roman', times;"> <div id="t_ft_OPJVO5ERHS00000000000000000000b"> </div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_9F07OHNOGG00000000000000000000fs">4</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">      </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Termination benefits</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Termination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Tenaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recognizes</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> termination benefits at the earlier of the following dates: (a) when it can no longer withdraw the offer of those benefits; and (b) when the costs for a restructuring that is within the scope of IAS <span id="fs_F37579R45C00000000000000000000fs">37</span> involves the payment of termination benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(<span id="fs_KNSFK0REBK00000000000000000000fs">5</span>)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">      </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Other compensation obligations</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Employ</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ee entitlements to annual leave, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">long-service leave</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, sick leave and other bonuses and compensations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> obligations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are accrued as earned.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Compensation to employees in the event of dismissal is charged to income in the year in which it becomes payable.</span></p> 63400000 10700000 600000 P4Y P10Y P7Y P7Y 154400000 50700000 148000000 46800000 181000000 175000000 <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Q     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Provisions </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris is subject to various claims, lawsuits and other legal proceedings, including customer claims, in which a third party is seeking payment for alleged damages, reimbursement for losses or indemnity. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> potential liability with respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management periodically reviews the status of each significant matter and assesses potential financial exposure. If</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, as a result of past events, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a potential loss from a claim or proceeding is considered probable and the amount can be </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reliably</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> estimated, a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">provision </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">statements and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> take into consideration </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> litigation and settlement strategies. These estimates are primarily constructed with the assistance of legal counsel. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As the scope of liabilities become better defined, there may be changes in the estimates of future costs </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which could have a material adverse effect on its results of operations, financial condition and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">cash flows.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">If Tenaris expects to be reimbursed for an accrued expense, as would be the case for an expense or loss covered under an insurance contract, and reimbursement is considered virtually certain, the expected reimbursement is recognized as a receivable.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">This note should be read in conjunction </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">with </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ote </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RLM4BFGVCW00000000000000000000fs">27</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> these Consolidated Financial Statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">R     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Trade and other payables </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Trade and other payables are recognized initially at fair value, generally the nominal invoice amount and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">subsequently measured at amortiz</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed cost. They are presented as current liabilities unl</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ess payment is not due within <span id="fs_Q351G99YMO00000000000000000000fs">twelve</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> months after the reporting period.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Due to the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ir</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> short-term nature </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">heir carrying amount</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considered to be the same as their fair value.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">S     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Revenue recognition </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Revenue comprises the fair value of the consideration received or receivable for the sale of goods and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> rendering of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> services in the ordinary course of Tenaris’s activities. The revenue recognized by the Company is measured at the transaction price of the consideration received or receivable to which the Company is entitled to, reduced by estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized and after eliminating sales within the group.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Revenue is recognized at a point in time or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">over</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> time from sales when control has been transferred and there is no unfulfilled performance obligation that could affect the acceptance of the product by the customer. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The control </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> transfer</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">red</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">upon</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> delivery.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred and either the customer has accepted the product in accordance with the sales contract, the acceptance provisions have lapsed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> or the Company has objective evidence that all criteria for acceptance have been satisfied, including all performance obligations. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These conditions are determined and ana</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">lyzed on a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">contract-by-contract</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> basis to ensure that all performance obligations are fulfilled</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n particular, Tenaris verifies customer acceptance of the goods, the satisfaction of delivery terms and any other applicable condition.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">For bill and hold transactions</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> revenue is recognized only to the extent that (a) the reason for the bill and hold arrangement must be substantive (for example, the customer has requested the arrangement); (b) the products have been specifically identified and are ready for delivery; (c) the Company </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">does not</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> have the ability to use the product or to direct it to another customer; (d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">) the usual payment terms apply.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company’s contracts</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> with customers</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> do not provide any material variable consideration, other than discounts, rebates and right of return. Discounts and rebates are recognized based on the most likely value and right</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of return</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are based o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n expected value considering past experience</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and contract conditions.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">Whe</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> the contracts include multiple performance obligations, the transaction price is allocated to each performance obligation based on the stand-alone selling prices. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> these are not directly observable, they are estimated based on the expected </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">cost-plus</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> margin.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">There are no judgements applied by management that significantly affect the determination of timing of satisfaction of performance obligations, nor the transaction price and amounts allocated to different performance obligations. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris provides services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> primarily</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> related to goods sold, which represent a non-material portion of sales revenue and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mainly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">include:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Pipe </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">m</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">anagement </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ervices</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">This comprises mainly preparation of the pipes ready to be run, delivery to the customer, storage services and rig return.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Field </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ervices</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Comprises</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">field technical support and running assistance.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These services</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rendered in connection to the sales of goods and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> attached to contracts with customers for the sale of goods. A significant portion of service revenue is recognized in the same period as the goods sold. There are no distinct uncertainties in the revenues and cash flows of the goods sold and services rendered as they are included in the same contract, have the same counterparty and are subject to the same conditions.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he following in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">put and output methods are applied</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to recognize revenue</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considering the nature</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of service</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Storage services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ompany provides storage services in owned or third-party warehouses, subject to a variable fee</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to be invoiced. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">his fe</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e is determined based on the time that the customer maintains the material in the warehouse and th</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e amount of the material stored. In </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">most</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> cases, to quantify the amount to be invoiced in any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored (in tons).</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Freights</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the revenue </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is recognized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">on a pro rata basis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considering the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">units delivered and time</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> elapsed.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Field services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the revenue i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s recognized considering output</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> method</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, in particular surveys of service comple</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tion provided by the customer.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company also provides </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">other services, such as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">hydraulic fracturing, coiled tubing and coating services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Regarding these services, the input and output methods to recognize the revenue are the following:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Hydraulic fracturing services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the revenue is recognized considering output methods, in particular surveys of service completion provided by the customer.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Coiled tubing services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the revenue is recognized considering output methods, in particular surveys of service completion provided by the customer.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Coating services: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company provides coating services on third-party tubes which are performed under specific contracts and recognized by reference to the stage of completion. Stage of completion is determined based on surveys of work performed as measured by units of production to date multiplied by contractually agreed-upon rates.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Revenue from providing services is recognized over time in the accounting period in which the services are rendered.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company does not expect to have any contracts </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in which</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds <span id="fs_L42OP6OH0G00000000000000000000fs">one</span> year. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Therefore</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considering that the contracts do not include any significant financing component,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the Company does not adjust any of the transaction pric</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">es for the time value of money. For this reason, the Company is also applying the practical expedient not to disclose details on transaction prices allocated to the remaining performance obligations as of the end of the reporting period.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris only provides standard quality warranties assuring that the goods sold will function as expected or are fit for their intended purpose, with no incremental service to the customer. Accordingly, warranties do not constitute a separate performance obligation.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In accordance with IFRS <span id="fs_1C1H4B72VK00000000000000000000fs">15</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognizes contract assets and contract liabilities.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A contract asset arises when </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has satisfied a performance obligation by transferring goods or services to a customer but has not yet established an unconditional right to consideration, as further performance or conditions may be required before invoicing the customer. Where invoicing is based on achievement of specific milestones, although work has been performed and revenue has been recognized, the contractual right to issue an invoice may be contingent on reaching the agreed milestone. A contract asset remains in this category until the right to payment becomes unconditional (i.e., invoice is issued), at which point it is reclassified as a trade receivable.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A contract liability is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> obligation to transfer goods or services to a customer for which </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has received consideration (or an amount of consideration is due) from the customer. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognizes a contract liability when it receives a payment (or becomes entitled to a payment) before transferring goods or services to the customer. A contract liability, also referred to as customer advance, is reduced as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> fulfills its performance obligations by delivering goods or rendering services to the customer.</span></p> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">T     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Cost of sales and </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">other selling expenses</span></h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Cost of sales and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">other selling</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">expenses are recognized in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement on the accrual basis of accounting.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Commissions, freight</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and other selling expenses</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, including shipping and handling costs, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recorded</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">elling, general and administrative expense</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Consolidated I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncome </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">U    </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Earnings per share</span></h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Earnings per share are calculated by dividing the income attributable to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the shareholders’ equity</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">by the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">monthly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">weighted average number of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">common</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shares </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">outstanding</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> during the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">period</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">There are no dilutive potential ordinary shares.</span></p> 0 <h2 style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">V     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">F</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">inancial instruments</span> </h2> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Non</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">derivative financial instruments comprise investments in financial debt instruments and equity, time deposits, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">contract assets, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">trade and other receivables, cash and cash equivalents, borrowing</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s and trade and other payables.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company classifies its financial instruments according to the following measurement categories:</span></p> <ul style="font-family: 'times new roman', times; font-size: 10pt; padding-inline-start: 2px;"> <li style="font-family: Wingdings; font-size: 10pt; line-height: 12pt; list-style-position: inside; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">those to be measured subsequently at fair value (either through OCI or through profit or loss), and</span></li> <li style="font-family: Wingdings; font-size: 10pt; line-height: 12pt; list-style-position: inside; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">those to be measured at amortised cost</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></li> </ul> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The classification depends on the Company’s business model for managing the financial assets and contractual terms of the cash flows.</span> </p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <div> <div id="t_ft_OUZHIKM9Y800000000000000000000b"> </div> </div> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Financial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit or loss.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash flow characteristics of the asset. There are <span id="fs_TKA3I3YU7K00000000000000000000fs">three</span> measurement categories into which the Company classifies its debt instruments:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Amortized Cost:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Exchange gains and losses and impairments related to the financial assets are immediately recognized in the Consolidated Income S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Fair value through oth</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">er comprehensive income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive Income and transferred to the Consolidated Income Statement when the financial asset is sold.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Fai</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">r value through profit and loss</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Assets that do not meet the criteria for amortized cost or FVOCI. Changes in fair value of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">E</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quity instruments are subsequently measured at fair value</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">either through profit or loss (FVPL) or through other comprehensive income (FVOCI). Changes in fair value are recognised in profit or loss unless Tenaris makes an irrevocable election at initial recognition to present changes in fair value in other comprehensive income for instruments not held for trading.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Accounting for derivative financial instruments and hedging act</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ivities is included within the s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ection III, Financial Risk Management.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">iii</span><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">.</span> <span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; text-transform: uppercase; line-height: inherit;">Financial risk management</span> </p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The multinational nature of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> operations and customer base expose</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ompany </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a variety of risks,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> mainly related to market risks (</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">including the effects of changes in foreign currency exchange rates and interest rates</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, credit risk</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and capital</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> market</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> risk</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">To</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">manage the volatility related to these exposures, management evaluates </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">exposures</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on a consolidated basis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> tak</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ing</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> advantage of exposure netting. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he Company or its subsidiaries may </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">then </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enter into various derivative transactions </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in order</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">prevent</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> potential adverse impacts on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">financial </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">performance</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Such derivative transactions are executed in accordance with internal policies and hedging practices.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <h2 style="line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; page-break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">A. Financial </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">r</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">isk </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">f</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">actors</span></h2> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(i) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Capital risk m</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">anagement</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is seeks to maintain a low</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> debt</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to total </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">equity ratio considering the industry and the mark</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ets where it operates. The year</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">end </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ratio of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">debt </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to total </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">equity </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(where </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">debt</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> comprises financial borrowings and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">total </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">equity</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is the sum of financial borrowings and equity) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.02</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as of December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 31</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QPM6TH7F7K00000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_E4VHRE8KLS00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_E6TG9YXI7K00000000000000000000fs" style="line-height: inherit;">5</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.03</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_I9TTZRIF8000000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AO7XLMO5DS00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. The Company does not have to comply with regulatory capital adequacy requirements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(ii)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Foreign exchange risk </span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris manufactures and sells its products in a number of countries throughout the world and consequently is exposed to foreign exchange rate risk. Since the Company’s functional currency is the U.S. dollar the purpose of Tenaris’s foreign currency hedging program is mainly to reduce the risk caused by changes in the exchange rates of other currencies against the U.S. dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s exposure to currency fluctuations is reviewed on a periodic </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">consolidated basis. A number of derivative transactions are performed in order to achieve an efficient coverage in the absence of operative or natural hedges. Almost all of these transactions are fo</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rward exchange rates contracts. S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ee </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ote </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JHQTR0WHXC00000000000000000000fs" style="line-height: inherit;">26</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to these</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Consolidated Financial Statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris does not</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enter into derivative financial instruments for trading or other speculative purposes, other than non-material investments in structured products</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In the case of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> subsidiaries </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">with</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> functional currencies other than the U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the results of hedging activities</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> reported in accordance with IFRS</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> may not</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reflect</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> entirely</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> management’s assessment of its foreign exchange risk hedging program. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ntercompany balances between </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> subsidiaries may generate financial gains (losses) to the extent that functional currencies differ.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> financial assets and liabilities </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ubject to changes arising from</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the variation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">foreign currency</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> exchange rates. The following table </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">provides</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> a breakdown of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">main financial assets and liabilities </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(including foreign exchange derivative contracts) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which impact the Company’s profit and loss </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IBKSB4WMJK00000000000000000000fs" style="line-height: inherit;">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_TCKDXAW55S00000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ETZURQVI0W00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RJ0OB4RZCW00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_NXECSVK86O00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 90px;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> All amounts Long / (Short) in thousands of U.S. dollars </span></p> </td> <td colspan="4" style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> As of December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit; font-weight: bold;"> Exposure currency / Functional currency </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_Y6GTO8V0F400000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_4ASXCJCL0W00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 77%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Euro / U.S. dollar </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (204,318 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (183,985 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Saudi Arabian Riyal / U.S. dollar </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (69,289 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (173,233 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Argentine Peso / U.S. dollar </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,777 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (40,565 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Brazilian Real / U.S. dollar </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (42,487 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (41,591 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> </tbody> </table> </div> <div style="margin: 0px; text-indent: 0px;"> <br/></div> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The main relevant exposures correspond to:</span></p> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <ul style="margin: 0px;text-indent: 0px;padding-inline-start: 16px;"> <li style="font-family: Wingdings; font-size: 10pt; line-height: 12pt; margin: 0px; padding-left: 8.42pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Euro / U.S. dollar</span></li> </ul> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 20pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ONPQCT073400000000000000000000fs" style="line-height: inherit;">2025</span>,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and <span id="fs_R49NPPGOS000000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_W14LP96GG000000000000000000000fs" style="line-height: inherit;">4</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">consisting primarily of Euro-denominated intercompany liabilities at certain subsidiaries whose functional currency is the U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">dollar. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A change of <span id="fs_OTENPDN4U800000000000000000000fs" style="line-height: inherit;">1</span>% in the EUR/USD exchange rate would have generated a pre-tax gain / loss of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">2.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_MOVSVSJVA800000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_H3NBFKDUIO00000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QWAA9PTKQO00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively, which would have been to a large extent offset by changes in currency translation adjustment included in Tenaris’s net equity position.</span></p> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <ul style="margin: 0px;text-indent: 0px;padding-inline-start: 16px;"> <li style="font-family: Wingdings; font-size: 10pt; line-height: 12pt; margin: 0px; padding-left: 8.42pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Saudi Arabian Riyal / U.S. d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ollar</span></li> </ul> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 20pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_N2VJNJQIN400000000000000000000fs" style="line-height: inherit;">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_RDT1G656N400000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_YNEMHRVUF400000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JKAGR352PS00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> consisting primarily of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Saudi Arabian Riyal-denominated financial and trade payables</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. The Saudi Arabian Riyal is tied to the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> U.S.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> dollar.</span></p> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <ul style="margin: 0px;text-indent: 0px;padding-inline-start: 16px;"> <li style="font-family: Wingdings; font-size: 10pt; line-height: 12pt; margin: 0px; padding-left: 8.42pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Argentine Peso / U.S. dollar</span></li> </ul> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 20pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XMP1RFHJKG00000000000000000000fs" style="line-height: inherit;">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_LKKE55QR4000000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JC474DPLYO00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> consisting primarily of Argentine Peso-denominated trade, social and fiscal payables at certain Argentine subsidiaries whose functional currency is the U.S. dollar. A change of <span id="fs_UGH7JUSH8W00000000000000000000fs" style="line-height: inherit;">1</span>% in the ARS/USD exchange rate would have generated a pre-tax gain / loss of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GV5EA2G2TC00000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_29FTT009CG00000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_FUA1SRN8YO00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> respectively.</span></p> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <ul style="margin: 0px;text-indent: 0px;padding-inline-start: 16px;"> <li style="font-family: Wingdings; font-size: 10pt; line-height: 12pt; margin: 0px; padding-left: 8.42pt; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Brazilian Real / U.S. dollar</span></li> </ul> <p style="line-height: 12pt; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 12pt; margin: 0pt 0pt 0pt 20pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_B8I8JW6KZK00000000000000000000fs" style="line-height: inherit;">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_TLEHTP746800000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Z5IP5MY3GG00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> consisting primarily of Brazilian Real-denominated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liabilities </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">at certain Brazilian subsidiaries whose functional currency is the U.S. dollar. A change of <span id="fs_VZZVKAU9IO00000000000000000000fs" style="line-height: inherit;">1</span>% in the BRL/USD exchange rate would have generated a pre</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-tax gain / loss of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VCQIKYUXA800000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_VT13VRU25S00000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_251MNP613400000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> respectively.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Considering the balances held as of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_MOE7QAJAEO00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_YE38ESX9KW00000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on financial assets and liabilities exposed to foreign exchange rate fluctuations, Tenaris estimates that the impact of a simultaneous <span id="fs_C9SNYCIVB400000000000000000000fs" style="line-height: inherit;">1</span>% </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">favorable / unfavorable movement </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in the levels of foreign currencies exchange rates relative to the U.S. dollar, woul</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d be a pre-tax gain / loss of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.2</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million (including a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">gain</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> / </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">loss</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">5.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million due to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">foreign exchange derivative contracts), </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which would be partially offset by changes to Tenaris’s net equity position of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> For balances held as of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_G2O35S3XUO00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4GEY9QE4SG00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, a simultaneous <span id="fs_DUF1URL63K00000000000000000000fs" style="line-height: inherit;">1</span>% favorable / unfavorable movement in the foreign currencies exchange rates relative to the U.S. dollar, would have generated a pre-tax gain / loss of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">5.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million (including a loss / gain of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million due to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">foreign exchange derivative contracts), </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which would have been partially offset by changes to Tenaris’s net equity position of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris based its foreign exchange sensitivity analysis on a 1% variance for information purposes only, enabling the analysis to any particular variance.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(iii)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Interest rate risk</span></h3> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris is subject to interest rate risk</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> its investment portfolio</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and its debt</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company uses a mix of variable and fixed rate debt in combination with its investment portfolio strategy. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he Company may choose to enter into </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">foreign exchange derivative contracts and/or </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">interest rate swaps to mitigate the exposure to changes in the interest rates. </span></p> <div> <br/></div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;">The following </span><span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;">table </span><span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;">summarizes</span> <span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;">the proportions of variable-rate and fixed-rate debt as of each year</span> <span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;">end</span><span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="background-color: #cdcf82; font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;"><br/></span></p> <div id="fs_YP4EKARZ8G00000000000000000000B"> <div id="t_ft_UGHX138FCG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 101px;" width="100%"> <tbody> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: ' Frutiger 45 Lig'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="8" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> As of December 31, </span></p> </td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_YB3D4WT8Q800000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_O51GQN7KSG00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> In thousands of U.S. dollars </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> % </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> In thousands of U.S. dollars </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> % </span></p> </td> </tr> <tr style="height: 21px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; width: 56%; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Fixed rate </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 15%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 75,012 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 5%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 15%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 172,018 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 5%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 39% </span></p> </td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 230,710 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 75% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 265,380 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61% </span></p> </td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <table style="width: 100%; margin-left: 0.1px; height: 16px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 16px;"> <td style="height: 16px; width: 2%; box-shadow: none;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="font-size: 9pt; box-shadow: none;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Out of the $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">75.0</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> m</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">illion fixed rate </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">borrowings,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">74.6</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">m</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">illion are short-term.</span></span></td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company estimates that</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> if</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> market</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> interest rates</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> applicable to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> borrowings</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">had</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> been <span id="fs_B68MS02MDC00000000000000000000fs" style="line-height: inherit;">100</span> basis points higher</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">then the additional </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">pre-tax </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">loss</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> would have been </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">3.5</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in <span id="fs_OVZ0W0LP6800000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CZANQV7PJ400000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5VUC6RVZTS00000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">5.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in <span id="fs_D6PB04LWMO00000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LQ1ROS43J400000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PQ5I9684UO00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> </p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris based its interest rate sensitivity analysis on a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_8R1H92SWA800000000000000000000fs" style="line-height: inherit;">100</span>-basis</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">points variance for information purposes only, enabling the analysis to any particular variance.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(iv)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Credit risk</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Credit risk arises from cash and cash equivalents, deposits with banks and financial institutions, as well as credit exposures </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> customers, including</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> outstanding receivables and committed transactions. The Company also actively monitors the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">creditworthiness of its treasury, derivative and insurance counterparties in order to minimize its credit risk.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">There is no concentration of credit </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">risk,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="-sec-ix-hidden:Tag22"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">o</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> single customer comprised more than 10% of Tenaris’s net sales in <span id="fs_5QN1U8I8TC00000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5A9GDTWDEO00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_K4QE0UUNW000000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_VLCWC1QRU800000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_3D4EJBYO4000000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_MB8DX8KF8G00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_935L4HE0OW00000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_D0G6KEW4FK00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_OIXTTN7Q6800000000000000000000fs" style="line-height: inherit;">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s credit policies related to sales of products and services are designed to identify customers with acceptable credit history and to allow Tenaris to require the use of credit insurance, letters of credit and other instruments designed to minimize credit risks </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">whenever deemed necessary. Tenaris maintains allowances for impairment for potential credit losses.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> See s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ection II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">K</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_8BY83CFFXS00000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">trade receivables amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,920.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million. Trade receivables had guarantees under credit insurance of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">289.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, letter of credit and other bank guarantees of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">83.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million. Overdue trade receivables amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">319.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, overdue guaranteed trade receivables amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">28.8</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million; and the allowance for doubtful accounts amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">59.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2OW5TLD57400000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> trade receivables amount</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,907.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million. Trade receivables ha</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> guarantees under credit insurance </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">208.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, letter of credit and other bank guarantees of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">79.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Overdue trade receivables amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">395.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, overdue guaranteed trade receivables amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">33.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million; and the allowance for doubtful accounts amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">48.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management believes that both the allowance for doubtful accounts and the existing guarantees are sufficient to cover doubtful trade receivables.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(v)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Counterparty risk</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris has investment guidelines with specific parameters to limit issuer risk on marketable securities. Counterparties for derivatives and cash transactions are limited to high credit quality financial institutions, normally investment grade.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">88.8%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> of Tenaris’s liquid financial assets correspond</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> to Investment Grade-rated instruments as of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_H34VYV4P9C00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_JLHACGPOW000000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">, in comparison with approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">91.4%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> as of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_F1SVZWK8U800000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_8L2SXQJ35C00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">.</span></p> <div> </div> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">v</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Liquidity risk</span></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> financing strategy </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">m</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s to maintain adequate financial resources and access to additional liquidity. During <span id="fs_RSDOZHBVEO00000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5GW33ONPCW00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WYDHTRR4C000000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Tenaris has </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">relied</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on cash flows from operations as well as additional bank financing to fund its transactions.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Management maintains sufficient cash and marketable securities to finance normal operations and believes that Tenaris also has </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">appropriate </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">access to market for short-term working capital needs.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Liquid financial assets as a whole (comprising cash and cash equivalents and other investments) were </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">18%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">20%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> total asset</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s at the end of <span id="fs_UN8X0FR1PS00000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XN9HIA3QYO00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IGNK7G1Q8000000000000000000000fs" style="line-height: inherit;">5</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_6GTZK5CZ9S00000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IY65DKJRU800000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SQA88WUXI800000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris has a conservative approach to the management of its liquidity, which consists of i)</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">cash and cash equivalents (cash in banks, liquidity funds and investments</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">with a</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">maturity of less than </span>three months <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">at the date of purchase), and ii) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ther </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nvestments (fixed income securities, time d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">eposits, and fund investments).</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris holds primarily investments in money market funds and variable or fixed-rate securities from investment grade issuers.</span> </p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">Tenaris holds its investments primarily in U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">dollars. As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_JHVU3IBBI800000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> and <span id="fs_9MM8UZ87M800000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_GSZ5ZJFOOG00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"><span id="fs_7Z6FVPEA0000000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">, U.S. dollar denominated liquid assets plus investments denominated in other currencies hedged to the U.S. dollar represented approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">91%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">93%</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">of total liquid financial assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">, respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(vii)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Commodity price risk</span></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">In the ordinary course of its operations, Tenaris purchases commodities and raw materials that are subject to price volatility caused by supply conditions, political and economic variables and other factors. As a consequence, Tenaris is exposed to risk resulting from fluctuations in the prices of these commodities and raw materials. Tenaris fixes the prices of such raw materials and commodities for short-term periods, typically not in excess of <span style="border-left: none; border-right: none;">one year</span>, and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">n general hedging for these risks is performed on a limited basis.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <h2 style="line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; page-break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">B. Category of financial instruments and classification w</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">ithin th</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">e fair value h</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">ierarchy</span></h2> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As mentioned in note II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">V</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Company classifies its financial instruments in the following measurement categories: amortized cost, fair value through othe</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">r comprehensive income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and fair </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">value through profit and loss</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For financial instruments that are measured in the statement of financial position at fair value, IFRS <span id="fs_45LO54WEZK00000000000000000000fs" style="line-height: inherit;">13</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“Fair value measurement” </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">requires a disclosure of fair value measurements by level according to the following fair value measurement hierarchy:</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Level <span id="fs_Y8G45PB4I800000000000000000000fs" style="line-height: inherit;">1</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Quoted prices (unadjusted) in active markets for identical assets or liabilities.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Level <span id="fs_000GLWPQ9S00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Inputs other than quoted prices included within Level <span id="fs_QQV9L2QBZ400000000000000000000fs" style="line-height: inherit;">1</span> that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Level <span id="fs_ATZKO6FJCG00000000000000000000fs" style="line-height: inherit;">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).</span></p> <div> <br/></div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The following tables present the financial instruments by category and levels as of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XO8RK80SAO00000000000000000000fs" style="line-height: inherit;">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_AJ7NCIRBB400000000000000000000fs" style="line-height: inherit;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WOJCC15GBK00000000000000000000fs" style="line-height: inherit;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_425DO1L0CG00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div id="fs_IDMKKR65SW00000000000000000000B"> <div style="border-left: none; border-right: none;"> <div style="border-right: none; border-left: none;"> <table cellpadding="0" cellspacing="0" style="height: 423px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 10px; width: 23.0939%;"> <p style="margin: 0pt;"><span style="font-family: ' Frutiger 45 Lig'; font-size: 12pt; line-height: inherit;"> </span><br/></p> </td> <td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 21px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Carrying amount </span></p> </td> <td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 21px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;"><br/></td> <td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 21px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;"><br/></td> <td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 31.2707%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Measurement Categories </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 31.1602%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> At Fair Value </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;"><br/></td> </tr> <tr style="height: 11px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 11px; width: 23.0939%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> December 31, 2025 </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Amortized Cost </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> FVOCI </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> FVPL </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_0R5ATJG2RK00000000000000000000fs" style="line-height: inherit;">1</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_7FMXZUPFU800000000000000000000fs" style="line-height: inherit;">2</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_FJGZ50XCJK00000000000000000000fs" style="line-height: inherit;">3</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; width: 23.0939%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.83978%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 1.21547%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 1.21547%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.83978%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 1.21547%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 1.21547%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.83978%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.72928%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.83978%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.72928%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.72928%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Cash and cash equivalents </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 572,647 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 313,728 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_P4BS5TLPHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 258,919 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 258,919 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_I0FMWCIUHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_4I1ZHADMGW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 2,306,760 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 827,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,069,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 410,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,479,284 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_NBIKL9JI4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_KOX9G00XSW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt 0pt 0pt 3.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_CRMEI31CHC00000000000000000000fs" style="line-height: inherit;">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%; font-family: 'Frutiger 45 Light';" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 827,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 827,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_V23B1TZLMO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_R1J0WB5A0W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_EVO37ED22O00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_08ZQWEDFPS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_MXXA0CW1MO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,069,393 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_82MV2GXEE800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,069,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 141 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,069,393 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_DNVZL2G5C000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_2Y8JGY8DHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Mutual fund </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 409,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_AFJHTY5USG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_7XO2FDP79C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 409,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 409,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_P6D454L5Q800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_AG3DSIN8ZK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Derivative financial instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WR8DLSNY6800000000000000000000fs"> -</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 335 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,540 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_OPHK8BEUO000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_N43I2GVDTS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other Investments Non-current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 758,085 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 95,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 621,387 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 41,608 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 655,867 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_HPED3AC9NK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 655,867 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_8HZW570QAO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 621,387 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 34,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 655,867 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_LF3QRCQ4WG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_X5ZHO81QI800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt 0pt 0pt 3.35pt; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_MYP06P9BJK00000000000000000000fs" style="line-height: inherit;">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 95,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 95,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_QVKLDMT9PS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_X4TGLIY73K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_UMHK1UWV1C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_GI6KRARQ1C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_I3RUAXEGR400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_D0IRAB9DG000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_RFMO9SH2HS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_WQWLEJJ1S000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_RC1KY93ADC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Trade receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,920,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,920,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_6FY7R5OMMO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_HC0UXKS80G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_18FHYNYZ3400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_QJ6R84JJ1C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_S1S0CFPQ8000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Receivables C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 443,273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 190,124 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_B96M9UVF8G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_NO761SV0M800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_T4JOFW9N7K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_04DQDFQMBK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_GUOZOFOX5S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 190,124 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 190,124 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_Q2ECOAAD6O00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_BIX8HUWPHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_XB3QMYVVLS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_X4M6P5GMGG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_DFQ1AEQJBK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other receivables (non-financial) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 253,149 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_81J2INZ8A800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_GQVY0P04DC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WG7XRSU8WG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_OC8WX4CAS000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_ON5B5QH10000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_ZM3HHRE5YO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 3,347,258 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,690,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 712,099 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 2,394,070 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Borrowings C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_MSYRXYMJJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_SWL4YQVH7K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_8LEQX92U0G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_O8ZR27UXXS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_I3VZ0YOK7400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Trade payables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 872,913 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 872,913 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_E9YHJ7R52O00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_DENDXFSFWW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WHC1WHSHTS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_72CXT20ZB400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_U55BH4FO8G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other liabilities C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 687,795 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 6,227 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><span id="fs_XF7HMWSXXC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_OFLWN2NJCW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_RC66VNHDIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 18px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-style: italic;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">Other liabilities </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 65,115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 6,227 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_XUA3GO66O000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WNZZN4S7U800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_HTPH2JI2G000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other liabilities (non-financial) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 622,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_SCR7RAOMO000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_TGR18U2JDC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_BZFHP7O30G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_SOZG22VY3400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_SG2RAFMEGW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_K8PAHQU4Y800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Lease liabilities C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 143,249 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 143,249 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_H0JXNQ67TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_NH2IUE384G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_S7PBW6BDKG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_F2CDD70UPC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_4EHICH0I8000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Derivative financial instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 14,330 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_O1JLS8NPZ400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 6,327 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 8,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_EQTYJBP2TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 14,329 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_H6OCD7P4QO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,328,111 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 6,327 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 66,890 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_ZD9KSJ61UO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 14,329 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none;"><span style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Includes liability related to share buyback program. See note </span><span style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_ICYUYC5WQO00000000000000000000fs" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: default; line-height: inherit;">35</span></span><span style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> to these Consolidated Financial Statements.</span></td> </tr> </tbody> </table> </div> </div> <div style="border-left: none; border-right: none;"> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Certain non-financial assets and liabilities were included in the above table to allow reconciliation with the Statements of Financial Position.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Due to their short time nature, the carrying amounts of trade receivables, trade payables, other financial receivables, other financial liabilities and other investments are considered to be similar to their fair values.</span></p> <div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div style="border-right: none; border-left: none;"> <div id="fs_ACIT4WPCHC00000000000000000000B"> <div style="border-left: none; border-right: none;"> <div style="border-right: none; border-left: none;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 425px;" width="100%"> <tbody> <tr style="height: 19px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; width: 20.4942%;"> <p style="margin: 0pt;"><br/></p> </td> <td rowspan="2" style="padding-left: 3.5pt;padding-right: 3.5pt;vertical-align: middle;box-shadow: none;height: 35px;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;width: 8.72093%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Carrying amount </span></p> </td> <td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 35px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 35px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 32.2674%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Measurement Categories </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 31.3954%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> At Fair Value </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt;padding-right: 3.5pt;vertical-align: top;box-shadow: none;height: 16px;width: 20.4942%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> December 31, 2024 </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.01163%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Amortized Cost </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> FVOCI </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> FVPL </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_7NSEU1WEZK00000000000000000000fs" style="line-height: inherit;">1</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.13953%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_T7STF4WP1C00000000000000000000fs" style="line-height: inherit;">2</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_KDLPD0VJKW00000000000000000000fs" style="line-height: inherit;">3</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; width: 20.4942%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.72093%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.01163%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.57558%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.28488%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.57558%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.13953%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.28488%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Cash and cash equivalents </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 675,256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 320,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_1PTPVRFU0G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 355,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 355,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_NXGAWNYE8G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_FHWFSIGWTC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 2,372,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 722,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%; text-align: right;" valign="bottom"><span style="font-style: italic; font-size: 8pt; font-weight: bold; font-family: 'Frutiger 45 Light';">376,998</span> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,650,671 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_MOH3MUIC7400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_LHF8C1IKV400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 20.4942%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt 0pt 0pt 3.35pt; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_P8UCCOCPZK00000000000000000000fs" style="line-height: inherit;">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.72093%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 722,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 9.01163%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 722,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.57558%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_56WKC24VEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.28488%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_1NA8X41Q8W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.57558%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_QGT3VIK4UO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.13953%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_K4A4D7C44G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.28488%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_6KC3O961M800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_Y317U2STKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_74ZPGVZ46800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_UUFD4C5TW000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_6SFKHJH25C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Mutual fund </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 376,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_GZZH6OV8DC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_DLEPTO4DHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 376,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 376,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_NCMQG1KR6800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_33E7C5ZJFK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Derivative financial instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_QPBNL9KKLC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_TPKVEP0UF400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_D9KFA5X53400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WS6PSA774W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other Investments Non-current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,005,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 140,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_G8XQMYGPJK00000000000000000000fs"> -</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_EGR4XHOJLS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_23ZT9QJTTS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_DQ82ESXU0W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_U9YR1MS5SG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt 0pt 0pt 3.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_4T84M5F9M800000000000000000000fs" style="line-height: inherit;">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 140,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 140,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_5IL9IOETS000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_6TQU0KE9PS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_N0E6SJBSOW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_XBJ788VSAO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_YK2E5TU7GG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_X8D79EKKTS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_AUK0JGP3LC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_JEX0IKPNI800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_1O2U4H5YLS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Trade receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,907,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,907,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_URCEAFLRGG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_EPDFS3Y75C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_12EAJ18TJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_06GWX2CROG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_8TQUUHSBCG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Receivables C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 435,973 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 191,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_LS6FC30W9C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_LIA5NWKZ7K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_GDF68UTA0W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_VV9BAYLSJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_5KWSC2V8A800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 191,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 191,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_A0HRSE7S5C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_AR0FASNWWG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_8VSQLZV3TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_G6UK4Q0VFK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_R12K41ABG000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other receivables (non-financial) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 244,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_6ZTYX6GR6800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_ZAVYAV6FU800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_YP4LA6K78000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_06K1JTKN9S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_COSXC2UTCW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_G3WK73L0TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 3,281,397 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 2,131,632 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 746,575 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 2,863,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Borrowings C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_HL3YZ6VALS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_SIGFDBC1MO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_DZNA9WB7Q800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_EJKHF7BFBK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_8WS64ZRIA800000000000000000000fs"> -</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Trade payables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 880,261 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 880,261 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_ZPFEYJWN4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_F185VBUWMO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_BL8P4C4E6800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_G4MELI6SNK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_94SLLNLAN400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other liabilities C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 887,526 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 31,985 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><span id="fs_RIJEV91ZPC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_UY3SU7QFRK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_6IRWE0MZ4G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 18px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-style: italic;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">Other liabilities </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 275,249 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 31,985 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_MEYY1AQCQO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_RYV45DYD4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_9ULDCR8RE800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other liabilities (non-financial) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 612,277 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_V5IYIAAHFK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_XM0VBJA5EO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_TY5OBDBUQ800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_D5DV8ZLBSW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WJYJJ37BPC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_K7QYOKR7EO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Lease liabilities C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 144,926 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 144,926 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_DIFE6ACH5S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_YH9TE4A5OG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_20AKMSJ5TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_V0I9Q1WFK000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_XST1A73NGW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Derivative financial instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_KU9J4HM8F400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_KIRQS40ZTC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_QFNF119LHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_79BH2G5DPS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,494,570 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_BCA6V0G9KG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 251,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_LMO1NWGZI800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 10pt; margin: 0pt;"><br/></p> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">(*)</span>}</span></td> <td style="font-size: 9pt; box-shadow: none;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Includes liability related to share buyback program. See note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_5I7VB6F87K00000000000000000000fs" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: default; line-height: inherit;">35</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> to these Consolidated Financial Statements.</span></span></td> </tr> </tbody> </table> </div> </div> </div> </div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;">Certain non-financial assets and liabilities were included in the above table to allow reconciliation with the Statements of Financial Position.</span></p> <p style="line-height: 10pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Due to their short time nature, the carrying amounts of trade receivables, trade payables, other financial receivables, other financial liabilities and other investments are considered to be similar to their fair values.</span></p> <div> <br/></div> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">here were no transfers between l</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">evel</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> during the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 11pt; margin: 0pt;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The fair value of financial instruments traded in active markets is based on quoted market prices at the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reporting</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis. The quoted market price used for financial assets held by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is the current bid price. These instruments are included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">L</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">evel </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PYL9N87AV400000000000000000000fs" style="line-height: inherit;">1</span> and comprise primar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">il</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">y corporate and sovereign debt securities.</span> </p> <p style="line-height: 11pt; margin: 0pt;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The fair value of financial instruments that are not traded in an active market (such as certain debt securities, certificates of deposits with original maturity of more than </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">three months</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">orward and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nterest </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ate derivative in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">truments) is determined by using valuation techniques</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> which</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> maximiz</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e the use</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of observable market data when</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> available and rely as little as possible on entity specific estimates. If all significant inputs required to value an instrument are observable, the instrument is included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">L</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">evel <span id="fs_ZDYBABNZHS00000000000000000000fs" style="line-height: inherit;">2</span>.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris values its assets and liabilities included in this level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied volatilities </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">obtained </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from market contributors as of the valuation date.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">If <span id="fs_RG789K6R4000000000000000000000fs" style="line-height: inherit;">one</span> or more of the significant inputs are not based on observable market data, the instruments are included in Level <span id="fs_HH5ST8PXV400000000000000000000fs" style="line-height: inherit;">3</span>. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">values its assets and liabilities in this level using management assumptions which reflect the Company’s best estimate on how market participants would price the asset or liability at measurement date.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Y4UJAHUPQ800000000000000000000fs" style="line-height: inherit;">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_2CBAO3UPK000000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QR6JH7HQ4000000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, main balances in this level included a liability related to the shares to be settled under the share buyback program. Unobservable inputs related to this balance include assumptions regarding average purchase prices of previous periods, and management's past experience related to the conclusion of the share buy-back program itself. A reasonable change in the inputs used would not affect the fair value of the liability </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">materially. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For more information see note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_K882KXALTS00000000000000000000fs" style="line-height: inherit;">35</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 11pt; margin: 0pt;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The following table presents the changes</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">L</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">evel <span id="fs_8JQAT8OKCG00000000000000000000fs" style="line-height: inherit;">3</span> assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <p style="line-height: 10pt; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_SE9JWS6O0W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 90px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 77.0124%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: ' Frutiger 45 Lig'; font-size: 12pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 21.9087%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.995851%; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px; width: 77.0124%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95851%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_N0KR9A5F0W00000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95851%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_FKYZCONMBK00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 77.0124%; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.95851%; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.995851%; height: 16px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.995851%; height: 16px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.95851%; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,411 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.995851%; height: 16px;"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px; width: 77.0124%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Decrease </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (243 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (185 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit;">)</span></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 16px; width: 77.0124%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment and others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 322 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (177 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit;">)</span></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px; width: 77.0124%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The following table presents the changes in Level <span id="fs_LR7FDLPYTS00000000000000000000fs" style="line-height: inherit;">3</span> liabilities:</span></p> <p style="margin: 0pt;"><br/></p> <div id="t_ft_1P9XBNSQ8000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 90px;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: ' Frutiger 45 Lig'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 77%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1PR0U5MH9C00000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_681UR7887K00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 86,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Settlement of share buyback program liability </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (86,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Share buyback program liability </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> </tr> </tbody> </table> </div> <div> <br/></div> <h2 style="line-height: 12pt; margin: 0pt 0pt 0pt 53.85pt; page-break-after: avoid; text-indent: -53.85pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">C</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">. </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Fair value estimation</span> </h2> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Financial assets or liabilities classified at fair value through profit or loss are measured under the framework established by the IASB accounting guidance for fair value measurements and disclosures.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The fair values of quoted investments are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> generally</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> based on current bid prices. If the market for a financial asset is not active or no market is available, fair values are established using standard valuation techniques. </span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The fair value of all outstanding derivatives is determined using speci</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fic pricing models that include</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> inputs that are observable in the market or can be derived from or corroborated by observable data.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The fair value of forward foreign exchange contracts is calculated as the net present value of the estimated future cash flows in each currency, based on observable yield curves, converted into U.S. dollars at the spot rate of the valuation date.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Borrowings are classified under other financial liabilities and measured at their amortized cost. Tenaris estimates that the fair value</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">L</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">evel <span id="fs_VPAOA6E3YO00000000000000000000fs" style="line-height: inherit;">2</span>)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of its main </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">borrowings</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">99.5%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">98.3%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of its carrying amount (including interests accrued) in <span id="fs_ECXKG55SI800000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RLW6E8Y40000000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_NGR064544G00000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_8KUJ71BHCG00000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> respectively. Fair values were calculated using standard valuation techniques for floating rate instruments and comparable market rates for discounting cash flows.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The carrying amount of investments </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recognized</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at amortized cost approximates its fair value.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">D. Accounting for derivative financial instruments and hedging activities</span></p> <div id="fs_IWZ3MPQ1M800000000000000000000B"> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> </div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris uses derivative financial instruments principally to manage its exposure to fluctuations in exchange rates and prices of raw materials. Derivative financial instruments are classified as current or non-current assets or liabilities based on their maturity dates. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Derivative financial instruments are initially recognized in the statement of financial position at fair value. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris uses market prices or specific tools for calculation of each instrument’s fair value, these tools are </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">monthly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tested for consistency. Market rates are used for all pricing operations. These include exchange rates, deposit rates and other discount rates matching the nature</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of each underlying risk. Gains or losses arising from changes in fair value of derivatives are recognized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Financial Results</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, except for derivatives that are designated and qualify for hedge accounting.</span> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 12pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris designates certain derivatives as hedges of particular risks associated with recognized assets or liabilities or highly probable forecast transactions. These transactions are classified as cash flow hedges. The effective portion of the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in equity. Amounts accumulated in equity are then recognized in the income statement in the same period as the offsetting losses and gains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. The fair value of Tenaris’s derivative financial instruments (assets or liabilities) continues to be reflected in the statement of financial position.</span></p> <p style="line-height: 12pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><br/></p> <p style="line-height: 12pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For transactions designated and qualifying for hedge accounting, Tenaris documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. Tenaris also documents its assessment on an ongoing basis, of whether the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">hedging instruments</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are highly effective in offsetting changes in the fair value or cash flow of hedged items. At December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_A8F9WEBMRK00000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_FII3JIOMFK00000000000000000000fs" style="line-height: inherit;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_J902ONDXA800000000000000000000fs" style="line-height: inherit;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the effective portion of designated cash flow hedges which is included</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other Reserves</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in equity amounted to </span><span style="background-color: #ffffff; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">2.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">debit</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">debit</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> respectively.</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The fair values of various derivative instruments used for hedging purposes and the movements of the hedging reserve included within </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other Reserves</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in equity are disclosed in note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TWOV5T717K00000000000000000000fs" style="line-height: inherit;">26</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to these Consolidated Financial Statements.</span></p> 0.02 0.03 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 90px;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> All amounts Long / (Short) in thousands of U.S. dollars </span></p> </td> <td colspan="4" style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> As of December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit; font-weight: bold;"> Exposure currency / Functional currency </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_Y6GTO8V0F400000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_4ASXCJCL0W00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 77%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Euro / U.S. dollar </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (204,318 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (183,985 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Saudi Arabian Riyal / U.S. dollar </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (69,289 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (173,233 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Argentine Peso / U.S. dollar </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,777 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (40,565 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Brazilian Real / U.S. dollar </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (42,487 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (41,591 </span></p> </td> <td style="padding: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> </tbody> </table> -204318000 -183985000 -69289000 -173233000 -8777000 -40565000 -42487000 -41591000 2000000 1800000 100000 400000 400000 400000 1200000 5600000 1900000 5800000 1500000 1400000 0.01 <div id="t_ft_UGHX138FCG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 101px;" width="100%"> <tbody> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: ' Frutiger 45 Lig'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="8" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> As of December 31, </span></p> </td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_YB3D4WT8Q800000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_O51GQN7KSG00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> In thousands of U.S. dollars </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> % </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> In thousands of U.S. dollars </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> % </span></p> </td> </tr> <tr style="height: 21px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; width: 56%; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Fixed rate </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 15%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 75,012 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 5%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 15%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 172,018 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; width: 5%; margin: 0px; text-indent: 0px; height: 21px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 39% </span></p> </td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 230,710 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 75% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 265,380 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61% </span></p> </td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <table style="width: 100%; margin-left: 0.1px; height: 16px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 16px;"> <td style="height: 16px; width: 2%; box-shadow: none;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="font-size: 9pt; box-shadow: none;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Out of the $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">75.0</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> m</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">illion fixed rate </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">borrowings,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">74.6</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">m</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">illion are short-term.</span></span></td> </tr> </tbody> </table> 75012000 0.25 172018000 0.39 230710000 0.75 265380000 0.61 305722000 437398000 75000000 74600000 3500000 5500000 0.10 0.10 0.10 1920800000 289900000 83600000 319200000 28800000 59600000 1907500000 208600000 79800000 395500000 33600000 48100000 0.888 0.914 0.18 0.20 P3M 0.91 0.93 P1Y <div style="border-left: none; border-right: none;"> <div style="border-right: none; border-left: none;"> <table cellpadding="0" cellspacing="0" style="height: 423px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 10px; width: 23.0939%;"> <p style="margin: 0pt;"><span style="font-family: ' Frutiger 45 Lig'; font-size: 12pt; line-height: inherit;"> </span><br/></p> </td> <td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 21px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Carrying amount </span></p> </td> <td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 21px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;"><br/></td> <td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 21px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;"><br/></td> <td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 31.2707%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Measurement Categories </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 31.1602%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> At Fair Value </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;"><br/></td> </tr> <tr style="height: 11px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 11px; width: 23.0939%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> December 31, 2025 </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Amortized Cost </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> FVOCI </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> FVPL </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_0R5ATJG2RK00000000000000000000fs" style="line-height: inherit;">1</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_7FMXZUPFU800000000000000000000fs" style="line-height: inherit;">2</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 11px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_FJGZ50XCJK00000000000000000000fs" style="line-height: inherit;">3</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 11px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; width: 23.0939%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.83978%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 1.21547%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 1.21547%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.83978%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 1.21547%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 1.21547%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.83978%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.72928%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.83978%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.72928%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; width: 8.72928%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 1.21547%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Cash and cash equivalents </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 572,647 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 313,728 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_P4BS5TLPHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 258,919 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 258,919 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_I0FMWCIUHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_4I1ZHADMGW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 2,306,760 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 827,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,069,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 410,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,479,284 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_NBIKL9JI4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_KOX9G00XSW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt 0pt 0pt 3.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_CRMEI31CHC00000000000000000000fs" style="line-height: inherit;">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%; font-family: 'Frutiger 45 Light';" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 827,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 827,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_V23B1TZLMO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_R1J0WB5A0W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_EVO37ED22O00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_08ZQWEDFPS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_MXXA0CW1MO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,069,393 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_82MV2GXEE800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,069,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 141 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,069,393 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_DNVZL2G5C000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_2Y8JGY8DHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Mutual fund </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 409,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_AFJHTY5USG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_7XO2FDP79C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 409,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 409,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_P6D454L5Q800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_AG3DSIN8ZK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Derivative financial instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WR8DLSNY6800000000000000000000fs"> -</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 335 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,540 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_OPHK8BEUO000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_N43I2GVDTS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other Investments Non-current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 758,085 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 95,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 621,387 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 41,608 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 655,867 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_HPED3AC9NK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 655,867 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_8HZW570QAO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 621,387 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 34,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 655,867 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_LF3QRCQ4WG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_X5ZHO81QI800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt 0pt 0pt 3.35pt; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_MYP06P9BJK00000000000000000000fs" style="line-height: inherit;">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 95,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 95,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_QVKLDMT9PS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_X4TGLIY73K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_UMHK1UWV1C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_GI6KRARQ1C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_I3RUAXEGR400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_D0IRAB9DG000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_RFMO9SH2HS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_WQWLEJJ1S000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_RC1KY93ADC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Trade receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,920,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,920,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_6FY7R5OMMO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_HC0UXKS80G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_18FHYNYZ3400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_QJ6R84JJ1C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_S1S0CFPQ8000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Receivables C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 443,273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 190,124 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_B96M9UVF8G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_NO761SV0M800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_T4JOFW9N7K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_04DQDFQMBK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_GUOZOFOX5S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 190,124 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 190,124 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_Q2ECOAAD6O00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_BIX8HUWPHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_XB3QMYVVLS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_X4M6P5GMGG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_DFQ1AEQJBK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other receivables (non-financial) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 253,149 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_81J2INZ8A800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_GQVY0P04DC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WG7XRSU8WG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_OC8WX4CAS000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_ON5B5QH10000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_ZM3HHRE5YO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 3,347,258 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,690,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 712,099 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 2,394,070 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Borrowings C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_MSYRXYMJJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_SWL4YQVH7K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_8LEQX92U0G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_O8ZR27UXXS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_I3VZ0YOK7400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Trade payables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 872,913 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 872,913 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_E9YHJ7R52O00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_DENDXFSFWW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WHC1WHSHTS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_72CXT20ZB400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_U55BH4FO8G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other liabilities C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 687,795 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 6,227 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><span id="fs_XF7HMWSXXC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_OFLWN2NJCW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_RC66VNHDIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 18px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-style: italic;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">Other liabilities </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 65,115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 6,227 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_XUA3GO66O000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WNZZN4S7U800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_HTPH2JI2G000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other liabilities (non-financial) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 622,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_SCR7RAOMO000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_TGR18U2JDC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_BZFHP7O30G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_SOZG22VY3400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_SG2RAFMEGW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_K8PAHQU4Y800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Lease liabilities C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 143,249 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 143,249 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_H0JXNQ67TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_NH2IUE384G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_S7PBW6BDKG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_F2CDD70UPC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_4EHICH0I8000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Derivative financial instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 14,330 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_O1JLS8NPZ400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 6,327 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 8,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_EQTYJBP2TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 14,329 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_H6OCD7P4QO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.21547%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 23.0939%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,328,111 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 6,327 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 66,890 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.83978%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_ZD9KSJ61UO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 14,329 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; height: 16px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72928%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.21547%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none;"><span style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Includes liability related to share buyback program. See note </span><span style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_ICYUYC5WQO00000000000000000000fs" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: default; line-height: inherit;">35</span></span><span style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> to these Consolidated Financial Statements.</span></td> </tr> </tbody> </table> </div> <div style="border-left: none; border-right: none;"> <div style="border-right: none; border-left: none;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 425px;" width="100%"> <tbody> <tr style="height: 19px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; width: 20.4942%;"> <p style="margin: 0pt;"><br/></p> </td> <td rowspan="2" style="padding-left: 3.5pt;padding-right: 3.5pt;vertical-align: middle;box-shadow: none;height: 35px;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;width: 8.72093%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Carrying amount </span></p> </td> <td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 35px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 35px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 32.2674%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Measurement Categories </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 31.3954%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> At Fair Value </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 19px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt;padding-right: 3.5pt;vertical-align: top;box-shadow: none;height: 16px;width: 20.4942%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> December 31, 2024 </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.01163%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Amortized Cost </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> FVOCI </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> FVPL </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_7NSEU1WEZK00000000000000000000fs" style="line-height: inherit;">1</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.13953%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_T7STF4WP1C00000000000000000000fs" style="line-height: inherit;">2</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Level <span id="fs_KDLPD0VJKW00000000000000000000fs" style="line-height: inherit;">3</span> </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; width: 20.4942%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.72093%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.01163%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.57558%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.28488%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.57558%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.13953%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 8.28488%; height: 16px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.59884%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Cash and cash equivalents </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 675,256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 320,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_1PTPVRFU0G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 355,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 355,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_NXGAWNYE8G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_FHWFSIGWTC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 2,372,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 722,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%; text-align: right;" valign="bottom"><span style="font-style: italic; font-size: 8pt; font-weight: bold; font-family: 'Frutiger 45 Light';">376,998</span> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,650,671 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_MOH3MUIC7400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_LHF8C1IKV400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 20.4942%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt 0pt 0pt 3.35pt; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_P8UCCOCPZK00000000000000000000fs" style="line-height: inherit;">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.72093%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 722,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 9.01163%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 722,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.57558%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_56WKC24VEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.28488%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_1NA8X41Q8W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.57558%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_QGT3VIK4UO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.13953%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_K4A4D7C44G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 8.28488%; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_6KC3O961M800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; width: 1.59884%; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_Y317U2STKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_74ZPGVZ46800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_UUFD4C5TW000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_6SFKHJH25C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Mutual fund </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 376,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_GZZH6OV8DC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_DLEPTO4DHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 376,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 376,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_NCMQG1KR6800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_33E7C5ZJFK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Derivative financial instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_QPBNL9KKLC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_TPKVEP0UF400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_D9KFA5X53400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WS6PSA774W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other Investments Non-current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,005,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 140,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_G8XQMYGPJK00000000000000000000fs"> -</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_EGR4XHOJLS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_23ZT9QJTTS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_DQ82ESXU0W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_U9YR1MS5SG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt 0pt 0pt 3.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_4T84M5F9M800000000000000000000fs" style="line-height: inherit;">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 140,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 140,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_5IL9IOETS000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_6TQU0KE9PS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_N0E6SJBSOW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_XBJ788VSAO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_YK2E5TU7GG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 4.9pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_X8D79EKKTS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_AUK0JGP3LC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_JEX0IKPNI800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_1O2U4H5YLS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Trade receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,907,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 1,907,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_URCEAFLRGG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_EPDFS3Y75C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_12EAJ18TJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_06GWX2CROG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_8TQUUHSBCG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Receivables C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 435,973 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 191,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_LS6FC30W9C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_LIA5NWKZ7K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_GDF68UTA0W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_VV9BAYLSJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_5KWSC2V8A800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 191,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 191,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_A0HRSE7S5C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_AR0FASNWWG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_8VSQLZV3TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_G6UK4Q0VFK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_R12K41ABG000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other receivables (non-financial) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 244,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_6ZTYX6GR6800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_ZAVYAV6FU800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_YP4LA6K78000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_06K1JTKN9S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_COSXC2UTCW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_G3WK73L0TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 3,281,397 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 2,131,632 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 746,575 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 2,863,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Borrowings C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_HL3YZ6VALS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_SIGFDBC1MO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_DZNA9WB7Q800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_EJKHF7BFBK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_8WS64ZRIA800000000000000000000fs"> -</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Trade payables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 880,261 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 880,261 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_ZPFEYJWN4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_F185VBUWMO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_BL8P4C4E6800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_G4MELI6SNK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_94SLLNLAN400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Other liabilities C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 887,526 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 31,985 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><span id="fs_RIJEV91ZPC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_UY3SU7QFRK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_6IRWE0MZ4G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 18px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-style: italic;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">Other liabilities </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 275,249 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 31,985 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_MEYY1AQCQO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_RYV45DYD4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_9ULDCR8RE800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 18px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt; text-indent: 12pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> Other liabilities (non-financial) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"> 612,277 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_V5IYIAAHFK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_XM0VBJA5EO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; line-height: inherit;"><span id="fs_TY5OBDBUQ800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_D5DV8ZLBSW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_WJYJJ37BPC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_K7QYOKR7EO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Lease liabilities C and NC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 144,926 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 144,926 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_DIFE6ACH5S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_YH9TE4A5OG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_20AKMSJ5TS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_V0I9Q1WFK000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_XST1A73NGW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 16px; vertical-align: bottom; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> Derivative financial instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_KU9J4HM8F400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_KIRQS40ZTC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_QFNF119LHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;"><span id="fs_79BH2G5DPS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; vertical-align: bottom; width: 1.59884%;" valign="bottom"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 20.4942%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.72093%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.01163%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 1,494,570 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_BCA6V0G9KG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 251,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.57558%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"><span id="fs_LMO1NWGZI800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.13953%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 8.28488%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 16px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.59884%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 10pt; margin: 0pt;"><br/></p> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">(*)</span>}</span></td> <td style="font-size: 9pt; box-shadow: none;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Includes liability related to share buyback program. See note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_5I7VB6F87K00000000000000000000fs" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: default; line-height: inherit;">35</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> to these Consolidated Financial Statements.</span></span></td> </tr> </tbody> </table> </div> 572647000 313728000 258919000 258919000 2306760000 827476000 1069252000 410032000 1479284000 827476000 827476000 1069393000 1069252000 141000 1069393000 409891000 409891000 409891000 1875000 335000 1540000 1875000 758085000 95090000 621387000 41608000 655867000 7128000 655867000 621387000 34480000 655867000 95090000 95090000 7128000 7128000 7128000 1920840000 1920840000 443273000 190124000 190124000 190124000 253149000 3347258000 1690974000 712099000 2394070000 1875000 7128000 305722000 305722000 872913000 872913000 687795000 6227000 58888000 58888000 65115000 6227000 58888000 58888000 622680000 143249000 143249000 14330000 6327000 8002000 14329000 1328111000 6327000 66890000 14329000 58888000 675256000 320212000 355044000 355044000 2372999000 722328000 1273673000 376998000 1650671000 722328000 722328000 1273673000 1273673000 1273673000 376998000 376998000 376998000 7484000 7484000 7484000 1005300000 140292000 857959000 7049000 857959000 7049000 857959000 857959000 857959000 140292000 140292000 7049000 7049000 7049000 1907507000 1907507000 435973000 191058000 191058000 191058000 244915000 3281397000 2131632000 746575000 2863674000 7484000 7049000 437398000 437398000 880261000 880261000 887526000 31985000 243264000 243264000 275249000 31985000 243264000 243264000 612277000 144926000 144926000 8300000 8300000 8300000 1494570000 251564000 8300000 243264000 P3M <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 90px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 77.0124%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: ' Frutiger 45 Lig'; font-size: 12pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 21.9087%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.995851%; font-family: 'Frutiger 45 Light';" valign="bottom"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px; width: 77.0124%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95851%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_N0KR9A5F0W00000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95851%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_FKYZCONMBK00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 77.0124%; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.95851%; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.995851%; height: 16px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.995851%; height: 16px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.95851%; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,411 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.995851%; height: 16px;"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px; width: 77.0124%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Decrease </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (243 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (185 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit;">)</span></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 16px; width: 77.0124%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment and others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 322 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (177 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px; width: 0.995851%; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit;">)</span></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px; width: 77.0124%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95851%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.995851%; font-family: 'Frutiger 45 Light';"><br/></td> </tr> </tbody> </table> 7049000 7411000 -243000 -185000 322000 -177000 7128000 7049000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 90px;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: ' Frutiger 45 Lig'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 77%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1PR0U5MH9C00000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_681UR7887K00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 86,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Settlement of share buyback program liability </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (86,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Share buyback program liability </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px; font-family: 'Frutiger 45 Light';"><br/></td> </tr> </tbody> </table> 243264000 86240000 243264000 86240000 58888000 243264000 58888000 243264000 0.995 0.983 2700000 600000 <div style="margin: 0pt; line-height: 1.2;"><a href="#TOC" id="BSB-01_19120261756111" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">I</span><span style="color: #cc0066; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">V. OTHER NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</span></a></div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 21.3pt; text-indent: -21.3pt;"><a href="#" id="BSB-02_1912026175622796" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_MNMZCY9GKG00000000000000000000fs" style="display: inline;">1           </span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';"> </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Segment information</span></a></p> <p style="line-height: 1.2; margin: 0pt;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As mentioned in sectio</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n II.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">egment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nformation is disclosed as follow</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Reportable operating segments</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">(All amounts in millions of U.S. dollars</span><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">)</span></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"> <br/></p> <div id="fs_KZICNWYJOG00000000000000000000B"> <div id="t_ft_3Y64WEKBXS00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 204px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%; margin-left: 0.1px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tubes </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 65%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Management view - operating income </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,163 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 108 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,271 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Difference in cost of sales </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 31 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in selling, general and administrative expenses </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (17 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in other operating income (expenses), net </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> IFRS - operating income </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,283 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Financial income (expense), net </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 133 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before equity in earnings of non-consolidated companies and income tax </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,416 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity in earnings of non-consolidated companies </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before income tax </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,474 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Net Sales </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 11,400 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 581 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 11,981 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Depreciation and amortization </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 594 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 22 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 616 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br/></p> <div id="t_ft_LKPEP4S81S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 175px;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tubes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Management view - operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 143 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,534 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Difference in cost of sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in selling, general and administrative expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in other operating income (expenses), net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> IFRS - operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,419 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Financial income (expense), net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 129 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 10px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before equity in earnings of non-consolidated companies and income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity in earnings of non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Net Sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 11,907 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 617 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 12,524 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Depreciation and amortization </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 580 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 53 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br/></p> <div id="t_ft_9PGPYL7ZOW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%; margin-left: 0.1px;" width="100%"> <tbody> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2023 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tubes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Management view - operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,337 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 129 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,466 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Difference in cost of sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (134 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in selling, general and administrative expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (7 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in other operating income (expenses), net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (9 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> IFRS - operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,316 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Financial income (expense), net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 221 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before equity in earnings of non-consolidated companies and income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,537 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity in earnings of non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 95 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Net Sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 14,185 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 684 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 14,869 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Depreciation and amortization </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 518 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 31 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">549</span></span></p> </td> </tr> </tbody> </table> </div> </div> <div><br/></div> <div> <div style="border-left: none; border-right: none;"> <div> <div> </div> </div> </div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">There are no material differences between IFRS and management view in total revenues.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The differences between operating income under IFRS and the management view</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are mainly related to the cost of goods sold, reflecting the effect of raw materials prices increases on the valuation of the replacement cost considered for management view compared to IFRS cost calculated at historical cost </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mainly on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">FIFO basis, and other</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> minor</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> timing differences.</span> </p> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The main differences in net income under the IFRS and management views arise from the impact of functional currencies on financial result, deferred income taxes as well as the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">equity in earnings </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of non-consolidated companies.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_4UPKTK5Q8000000000000000000000fs" style="display: inline;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_95B4O1OPQ800000000000000000000fs" style="display: inline;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ollowing the integration of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">coating</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> activities into its Tubes segment, the Company re</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">presented</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">year-to-date segment information amounts accordingly.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Geographical information</span></h3> <p style="margin: 0pt;"><br/></p> <div id="fs_WOTN8QRM8000000000000000000000B"> <div id="t_ft_U1Q16ZGL0000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%; height: 350px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> North America </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> South America </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Europe </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Asia Pacific, Middle East and Africa </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Unallocated </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; width: 33.6795%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.19881%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.19881%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.19881%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.19881%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.2374%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.48368%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.2374%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,712,368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,386,881 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 893,540 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,988,368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ASY933CKLS00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,981,157 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Property, plant and equipment, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,489,730 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,432,099 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 903,687 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 379,566 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SSA9SUHILS00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,205,082 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Intangible Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,115,287 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 187,431 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,497 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 36,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TW0Q7UMGBK00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,357,116 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Right of Use Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 54,424 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,254 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 29,553 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 48,326 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_MRZXG5MCLC00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 144,557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Investments in non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_X2235L6B5S00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HK4SOY7E5S00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_951Z1YIFVK00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HIF1LBN47400000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,561,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,561,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,558,769 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,621,581 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,262,458 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,081,126 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BQ0L0OCS4000000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,523,934 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Property, plant and equipment, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,578,293 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,257,345 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 832,443 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 453,390 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_OX87Y8JSV400000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,121,471 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Intangible Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,117,314 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 177,934 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,899 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 47,602 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7325GCQHNK00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,357,749 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Right of Use Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 65,105 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,255 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 28,242 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 47,266 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WF83F6DFCW00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 148,868 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Investments in non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DLY4VI56U800000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IOS6RFHBSW00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DN8OVCOK7K00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QSATURECXS00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2023 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,765,130 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,382,495 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,175,581 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,545,654 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_U0SOUJIG8W00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,868,860 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Property, plant and equipment, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,676,352 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,143,752 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 794,242 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 463,833 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_398QK0YQ7400000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,078,179 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Intangible Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,126,774 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 166,450 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 22,580 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,306 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_THK22YVJ9C00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,377,110 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Right of Use Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 50,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,241 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 24,832 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 47,937 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_G59XIRNTFK00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 132,138 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Investments in non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZCVCL0V4G000000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EVESRFFN3K00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DJUL71F14G00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5CZEJZT5WG00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,608,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,608,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none;"><span style="font-size: 8pt;">^(*)</span></td> <td style="width: 98%; box-shadow: none; text-align: justify;"><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the years </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>202</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>5</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>20</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>2</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>4</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and <span>20</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>2</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>3</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> includes </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-style: italic; line-height: inherit;">Investment</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-style: italic; line-height: inherit;">s in non-consolidated companies</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">. See n</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ote </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>14</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> to these Consolidated Financial Statements</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></td> </tr> </tbody> </table> </div> <div> <div id="t_ft_VJZNTAYF6800000000000000000000b"> </div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">There are no revenues from external customers attributable to the Company’s country of incorporation (Luxembourg). </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The principal countries from </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">which the C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ompany derives its revenues are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> USA</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">35%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Argentina</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">11%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Canada, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Saudi Arabia, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">United Arab Emirates</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Brazil</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Mexico</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (each less than 10%)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GPQSGB13WG00000000000000000000fs" style="display: inline;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_8WT95FS77400000000000000000000fs" style="display: inline;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TE8IQ4HJCW00000000000000000000fs" style="display: inline;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_7VPS699GVK00000000000000000000fs" style="display: inline;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6HK2Y5RMKG00000000000000000000fs" style="display: inline;">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> non-current assets comprising property, plant and equipment, intangible assets and right of use assets attributable to the Company’s country of incorporation (Luxembourg) amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">16.7</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million, $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">15.6</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">10.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, respectively.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Revenue is mainly recognized at a point in time to direct customers, when control has been transferred and there is no unfulfilled performance obligation that could affect the acceptance of the product by the customer. Revenues related to governmental institutions represent approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">25%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">30%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">26%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in <span id="fs_DP9M2D8XBK00000000000000000000fs" style="display: inline;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_1FJVEWL1VK00000000000000000000fs" style="display: inline;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_C4A3HATLTC00000000000000000000fs" style="display: inline;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZAIN25FK0000000000000000000000fs" style="display: inline;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SFXE9DH7QO00000000000000000000fs" style="display: inline;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_C3XQE6VKLC00000000000000000000fs" style="display: inline;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7RLVA0ZBKG00000000000000000000fs" style="display: inline;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BDJOGL7QCG00000000000000000000fs" style="display: inline;">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> respectively.</span></p> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tubes segment revenues by market:</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(All amounts in millions of U.S. dollars)</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_JUQZW2O6QO00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 78px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Revenues Tubes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_9J57ICLEIO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_GTCDOIA6R400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_3IMR1VUELS00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 65%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Oil &amp; gas </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,172 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,689 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,488 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Oil &amp; gas processing plants </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 818 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Industrial, power &amp; others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 671 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 670 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 879 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,400 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,907 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 14,185 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The table above i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nclude</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> revenues from services performed on third party tubes of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">426.6</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million, $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">483.5</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">164.8</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_00Z4A05U6800000000000000000000fs" style="display: inline;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_D7AKXZXQN400000000000000000000fs" style="display: inline;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_FLEIXWGDOW00000000000000000000fs" style="display: inline;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_UBREI16E8G00000000000000000000fs" style="display: inline;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_Y0KFO0UWDS00000000000000000000fs" style="display: inline;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZIMAV7896800000000000000000000fs" style="display: inline;">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively.</span><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> December </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_B3RXKFQ99S00000000000000000000fs" style="display: inline;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XRGEA2NJ9C00000000000000000000fs" style="display: inline;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EQ45IKNGK000000000000000000000fs" style="display: inline;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_3LGCPLVWB400000000000000000000fs" style="display: inline;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_FPQ5PIC9WG00000000000000000000fs" style="display: inline;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_68B4M0EJCG00000000000000000000fs" style="display: inline;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Company recognized contract liabilities related to customer</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> advances in the amount of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">168.8</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">206.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Contract liabilities represent obligations to perform services or deliver products in the future for cash considerations that have been received from customers.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Each of t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">se</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> amounts </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">re rec</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ognized as</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> revenues during the subsequent year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. In these periods, no significant adjustment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in revenues were performed related to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">previously satisfied </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">performance obligations.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_MXC9OZYN2O00000000000000000000fs" style="display: inline;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_P2ULICIQJK00000000000000000000fs" style="display: inline;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_E9T8JL2S5C00000000000000000000fs" style="display: inline;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Company recognized contract assets related to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">unbilled revenues in the amount of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">35.3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">50.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, respectively.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Contract assets arise from revenue earned for goods or services that is not yet</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> billable to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> customer</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <div id="t_ft_3Y64WEKBXS00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 204px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%; margin-left: 0.1px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tubes </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 65%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Management view - operating income </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,163 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 108 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,271 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Difference in cost of sales </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 31 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in selling, general and administrative expenses </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (17 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in other operating income (expenses), net </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; font-family: 'Frutiger 45 Light';" valign="bottom">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> IFRS - operating income </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,283 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Financial income (expense), net </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 133 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before equity in earnings of non-consolidated companies and income tax </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,416 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity in earnings of non-consolidated companies </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before income tax </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,474 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Net Sales </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 11,400 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 581 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 11,981 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Depreciation and amortization </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 594 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 22 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 616 </span></p> </td> <td style="padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br/></p> <div id="t_ft_LKPEP4S81S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 175px;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tubes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Management view - operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 143 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,534 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Difference in cost of sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in selling, general and administrative expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in other operating income (expenses), net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> IFRS - operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,419 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Financial income (expense), net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 129 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 10px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before equity in earnings of non-consolidated companies and income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity in earnings of non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Net Sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 11,907 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 617 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 12,524 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Depreciation and amortization </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 580 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 53 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br/></p> <div id="t_ft_9PGPYL7ZOW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%; margin-left: 0.1px;" width="100%"> <tbody> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2023 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tubes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Management view - operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,337 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 129 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,466 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Difference in cost of sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (134 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in selling, general and administrative expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (7 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Differences in other operating income (expenses), net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (9 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> IFRS - operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,316 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Financial income (expense), net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 221 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before equity in earnings of non-consolidated companies and income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,537 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity in earnings of non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 95 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Net Sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 14,185 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 684 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> 14,869 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.9468%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Depreciation and amortization </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 518 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> 31 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">549</span></span></p> </td> </tr> </tbody> </table> </div> 2163000000 108000000 2271000000 -31000000 17000000 2000000 2283000000 133000000 2416000000 58000000 2474000000 11400000000 581000000 11981000000 594000000 22000000 616000000 2391000000 143000000 2534000000 115000000 3000000 -3000000 2419000000 129000000 2548000000 9000000 2557000000 11907000000 617000000 12524000000 580000000 53000000 633000000 4337000000 129000000 4466000000 134000000 7000000 9000000 4316000000 221000000 4537000000 95000000 4633000000 14185000000 684000000 14869000000 518000000 31000000 549000000 <div id="t_ft_U1Q16ZGL0000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%; height: 350px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> North America </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> South America </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Europe </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Asia Pacific, Middle East and Africa </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Unallocated </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; width: 33.6795%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.19881%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.19881%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.19881%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.19881%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.2374%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.48368%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.2374%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.74184%; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,712,368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,386,881 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 893,540 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,988,368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ASY933CKLS00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,981,157 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Property, plant and equipment, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,489,730 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,432,099 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 903,687 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 379,566 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SSA9SUHILS00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,205,082 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Intangible Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,115,287 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 187,431 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,497 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 36,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TW0Q7UMGBK00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,357,116 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Right of Use Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 54,424 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,254 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 29,553 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 48,326 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_MRZXG5MCLC00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 144,557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Investments in non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_X2235L6B5S00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HK4SOY7E5S00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_951Z1YIFVK00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HIF1LBN47400000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,561,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,561,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,558,769 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,621,581 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,262,458 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,081,126 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BQ0L0OCS4000000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,523,934 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Property, plant and equipment, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,578,293 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,257,345 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 832,443 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 453,390 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_OX87Y8JSV400000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,121,471 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Intangible Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,117,314 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 177,934 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,899 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 47,602 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7325GCQHNK00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,357,749 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Right of Use Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 65,105 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,255 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 28,242 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 47,266 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WF83F6DFCW00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 148,868 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Investments in non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DLY4VI56U800000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IOS6RFHBSW00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DN8OVCOK7K00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QSATURECXS00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2023 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net sales </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,765,130 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,382,495 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,175,581 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,545,654 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_U0SOUJIG8W00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,868,860 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Property, plant and equipment, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,676,352 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,143,752 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 794,242 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 463,833 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_398QK0YQ7400000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,078,179 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Intangible Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,126,774 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 166,450 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 22,580 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,306 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_THK22YVJ9C00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,377,110 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Right of Use Assets, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 50,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,241 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 24,832 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 47,937 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_G59XIRNTFK00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 132,138 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 33.6795%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Investments in non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZCVCL0V4G000000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EVESRFFN3K00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DJUL71F14G00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.19881%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5CZEJZT5WG00000000000000000000fs" style="display: inline;"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,608,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 10.2374%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,608,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.74184%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none;"><span style="font-size: 8pt;">^(*)</span></td> <td style="width: 98%; box-shadow: none; text-align: justify;"><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the years </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>202</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>5</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>20</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>2</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>4</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and <span>20</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>2</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>3</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> includes </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-style: italic; line-height: inherit;">Investment</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-style: italic; line-height: inherit;">s in non-consolidated companies</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">. See n</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ote </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span>14</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> to these Consolidated Financial Statements</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></td> </tr> </tbody> </table> 5712368000 2386881000 893540000 2988368000 11981157000 3489730000 1432099000 903687000 379566000 6205082000 1115287000 187431000 17497000 36901000 1357116000 54424000 12254000 29553000 48326000 144557000 1561212000 1561212000 5558769000 2621581000 1262458000 3081126000 12523934000 3578293000 1257345000 832443000 453390000 6121471000 1117314000 177934000 14899000 47602000 1357749000 65105000 8255000 28242000 47266000 148868000 1543657000 1543657000 7765130000 3382495000 1175581000 2545654000 14868860000 3676352000 1143752000 794242000 463833000 6078179000 1126774000 166450000 22580000 61306000 1377110000 50128000 9241000 24832000 47937000 132138000 1608804000 1608804000 0.35 0.11 0.10 0.10 0.10 0.10 0.10 16700000 15600000 10700000 0.25 0.30 0.26 <table cellpadding="0" cellspacing="0" style="height: 78px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Revenues Tubes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_9J57ICLEIO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_GTCDOIA6R400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_3IMR1VUELS00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 65%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Oil &amp; gas </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,172 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,689 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,488 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Oil &amp; gas processing plants </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 818 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Industrial, power &amp; others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 671 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 670 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 879 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,400 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,907 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 14,185 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> 10172000000 10689000000 12488000000 557000000 548000000 818000000 671000000 670000000 879000000 11400000000 11907000000 14185000000 426600000 483500000 164800000 168800000 206200000 35300000 50800000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">2           </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Cost of sales</span></div> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 22.4pt; text-indent: -22.4pt;"><br/></p> <div style="border-left: none; border-right: none;"> <div id="fs_FL5Z4PE8A800000000000000000000B"> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="height: 326px;border-collapse: collapse;margin-left: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 20px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light';font-size: 10pt;line-height: inherit;"> </span><br/></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 33.9691%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 20px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; width: 64.941%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99092%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,709,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99092%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,921,097 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99092%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,986,929 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes in inventories due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_20SAF3DCYO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span style="border-left: none; border-right: none;">52,792</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 107,588 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Decrease in inventory due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (43 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%; font-family: 'Frutiger 45 Light';" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AUCC5XOOY800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SABWP769R400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Plus: Charges of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Raw materials, energy, consumables and other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,425,441 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,638,681 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,277,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Services and fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 367,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 408,478 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 437,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Labor cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,411,608 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,454,924 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,403,546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation of property, plant and equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 476,215 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 483,535 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 424,373 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization of intangible assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13,602 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,193 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,582 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation of right-of-use assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37,844 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 34,332 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 30,352 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Maintenance expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 338,042 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 443,498 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 408,410 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for obsolescence </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 53,700 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13,581 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Taxes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 417,380 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 124,500 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 272,120 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 211,539 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 230,161 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 216,220 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,752,860 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,924,334 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 8,603,083 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Less: Inventories at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,602,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%; font-family: 'Frutiger 45 Light';" valign="bottom"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,709,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,921,097 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,860,744 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 8,135,489 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 8,668,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-left: none; border-right: none;"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="box-shadow: none; width: 2%;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="box-shadow: none; width: 98%;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span style="border-left: none; border-right: none;">2023</span>, r</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">elated to the GPC, Isoplus anticorrosion coating division and Mattr’s pipe coating business unit acquisitions.</span></span></td> </tr> <tr> <td style="box-shadow: none; font-family: 'Frutiger 45 Light';"><br/></td> <td style="border-right: none; border-left: none; box-shadow: none;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="font-size: 9pt;">F</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="font-size: 9pt; ;text-decoration: none; ;font-weight: normal; ;color: black;"><span>or</span><span><span> t</span>he <span>year 202</span></span><span>4</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="font-family: 'times new roman', times; text-align: justify; text-indent: 0px;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;">,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;"> relat</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;">ed </span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;"><span>to Mattr’s pipe coating business unit acquisit</span>ion.</span></span></span></span></td> </tr> <tr> <td style="box-shadow: none;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="box-shadow: none;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">year</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span>, related to the deconsolidation of Amaja Tubular Services Limited.</span></span></td> </tr> </tbody> </table> </div> </div> </div> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="height: 326px;border-collapse: collapse;margin-left: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 20px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light';font-size: 10pt;line-height: inherit;"> </span><br/></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 33.9691%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 20px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; width: 64.941%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99092%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,709,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99092%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,921,097 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99092%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,986,929 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.999092%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes in inventories due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_20SAF3DCYO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span style="border-left: none; border-right: none;">52,792</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 107,588 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Decrease in inventory due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (43 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%; font-family: 'Frutiger 45 Light';" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AUCC5XOOY800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SABWP769R400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Plus: Charges of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Raw materials, energy, consumables and other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,425,441 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,638,681 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,277,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Services and fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 367,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 408,478 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 437,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Labor cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,411,608 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,454,924 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,403,546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation of property, plant and equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 476,215 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 483,535 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 424,373 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization of intangible assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13,602 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,193 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,582 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation of right-of-use assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37,844 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 34,332 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 30,352 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Maintenance expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 338,042 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 443,498 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 408,410 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for obsolescence </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 53,700 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13,581 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Taxes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 417,380 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 124,500 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 272,120 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 211,539 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 230,161 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 216,220 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,752,860 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,924,334 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 8,603,083 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Less: Inventories at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,602,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%; font-family: 'Frutiger 45 Light';" valign="bottom"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,709,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,921,097 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.999092%;" valign="bottom"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 64.941%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,860,744 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 8,135,489 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99092%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 8,668,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; vertical-align: bottom; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.999092%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-left: none; border-right: none;"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="box-shadow: none; width: 2%;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="box-shadow: none; width: 98%;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span style="border-left: none; border-right: none;">2023</span>, r</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">elated to the GPC, Isoplus anticorrosion coating division and Mattr’s pipe coating business unit acquisitions.</span></span></td> </tr> <tr> <td style="box-shadow: none; font-family: 'Frutiger 45 Light';"><br/></td> <td style="border-right: none; border-left: none; box-shadow: none;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="font-size: 9pt;">F</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="font-size: 9pt; ;text-decoration: none; ;font-weight: normal; ;color: black;"><span>or</span><span><span> t</span>he <span>year 202</span></span><span>4</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="font-family: 'times new roman', times; text-align: justify; text-indent: 0px;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;">,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;"> relat</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;">ed </span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;"><span>to Mattr’s pipe coating business unit acquisit</span>ion.</span></span></span></span></td> </tr> <tr> <td style="box-shadow: none;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="box-shadow: none;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">year</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span>, related to the deconsolidation of Amaja Tubular Services Limited.</span></span></td> </tr> </tbody> </table> </div> 3709942000 3921097000 3986929000 52792000 107588000 43000 4425441000 4638681000 5277507000 367532000 408478000 437804000 1411608000 1454924000 1403546000 476215000 483535000 424373000 13602000 12193000 11582000 37844000 34332000 30352000 338042000 443498000 408410000 53700000 41240000 13581000 417380000 124500000 272120000 211539000 230161000 216220000 7752860000 7924334000 8603083000 3602058000 3709942000 3921097000 7860744000 8135489000 8668915000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><a href="#TOC" id="BSB-04_19120261863559" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">3           </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Selling, general and administrative expense</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">s</span></a></div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_LSGQJJQXE800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px; height: 221px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_UX8RVRE1UO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_A1ZREU5YPS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_Q92R7SVDPC00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Services and fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 180,968 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 183,659 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 163,723 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Labor cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 669,859 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 705,849 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 652,820 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation of property, plant and equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25,462 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25,668 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 21,517 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization of intangible assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37,222 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41,557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 40,761 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation of right-of-use assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25,825 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 35,569 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 19,925 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Freights and other selling expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 647,100 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 624,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 696,705 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Provisions for contingencies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 21,020 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 30,356 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 38,899 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowances for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,180 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,095 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,590 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Taxes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 118,771 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 152,388 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 170,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88,089 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 106,764 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 110,883 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,828,496 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,904,828 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,919,307 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px; height: 221px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_UX8RVRE1UO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_A1ZREU5YPS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_Q92R7SVDPC00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Services and fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 180,968 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 183,659 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 163,723 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Labor cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 669,859 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 705,849 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 652,820 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation of property, plant and equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25,462 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25,668 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 21,517 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization of intangible assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37,222 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41,557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 40,761 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation of right-of-use assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25,825 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 35,569 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 19,925 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Freights and other selling expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 647,100 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 624,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 696,705 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Provisions for contingencies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 21,020 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 30,356 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 38,899 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowances for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,180 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,095 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,590 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Taxes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 118,771 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 152,388 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 170,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88,089 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 106,764 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 110,883 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,828,496 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,904,828 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,919,307 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> 180968000 183659000 163723000 669859000 705849000 652820000 25462000 25668000 21517000 37222000 41557000 40761000 25825000 35569000 19925000 647100000 624113000 696705000 21020000 30356000 38899000 14180000 -1095000 3590000 118771000 152388000 170484000 88089000 106764000 110883000 1828496000 1904828000 1919307000 <div style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <div style="margin: 0pt 0pt 0pt 0pt; line-height: 1.2;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_OQMSM0ZAMO00000000000000000000fs">4           </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Labor costs (included in Cost of sales and in Selling, general and administrative expenses)</span></div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_WGEHDHM4C000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 136px;" width="100%"> <tbody> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_30SGEJPO4000000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_LZFY5IM1M800000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_6L1J8Q201C00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Wages, salaries and social security costs </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,960,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,033,067 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,943,825 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Severance indemnities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 42,359 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 35,608 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 26,470 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Post-employment benefits - defined contribution plans </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 18,220 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,014 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 15,055 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Post-employment benefits - defined benefit plans </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,078 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 24,259 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 19,452 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Employee retention and long-term incentive program </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 52,570 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 51,825 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 51,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,081,467 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,160,773 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,056,366 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The following table shows the geographical distribution of the employees</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_TU9UVVRRQ800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 221px;" width="100%"> <tbody> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_8VOJ9APQKG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_OEZIJOWNPC00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_6OFRVKBPQ800000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Mexico </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,813 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,042 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,500 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Argentina </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,314 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,811 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,267 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,736 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,583 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,882 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Italy </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,102 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,140 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,187 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Romania </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,909 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,885 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,884 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Canada </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,236 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,197 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,195 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Brazil </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,406 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,492 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Colombia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 893 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,112 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Saudi Arabia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 746 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 759 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 849 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Indonesia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 611 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 911 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,573 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,281 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,247 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,193 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 24,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 25,874 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 29,134 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 136px;" width="100%"> <tbody> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_30SGEJPO4000000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_LZFY5IM1M800000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_6L1J8Q201C00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Wages, salaries and social security costs </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,960,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,033,067 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,943,825 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Severance indemnities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 42,359 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 35,608 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 26,470 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Post-employment benefits - defined contribution plans </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 18,220 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,014 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 15,055 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Post-employment benefits - defined benefit plans </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,078 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 24,259 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 19,452 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Employee retention and long-term incentive program </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 52,570 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 51,825 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 51,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,081,467 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,160,773 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,056,366 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> 1960240000 2033067000 1943825000 42359000 35608000 26470000 18220000 16014000 15055000 8078000 24259000 19452000 52570000 51825000 51564000 2081467000 2160773000 2056366000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 221px;" width="100%"> <tbody> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_8VOJ9APQKG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_OEZIJOWNPC00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_6OFRVKBPQ800000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Mexico </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,813 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,042 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,500 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Argentina </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,314 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,811 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,267 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,736 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,583 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,882 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Italy </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,102 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,140 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,187 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Romania </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,909 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,885 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,884 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Canada </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,236 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,197 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,195 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Brazil </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,406 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,492 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Colombia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 893 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,112 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Saudi Arabia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 746 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 759 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 849 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Indonesia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 611 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 911 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,573 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 1pt; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,281 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,247 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,193 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 1pt;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 24,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 25,874 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 29,134 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> 5813 6042 7500 5314 5811 6267 3736 3583 3882 2102 2140 2187 1909 1885 1884 1236 1197 1195 1212 1406 1492 915 893 1112 746 759 849 611 911 1573 1281 1247 1193 24875 25874 29134 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">5           </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Impairment charge</span></div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> conducts regular assessments of the carrying values of its assets. The recoverable value is based on the value in use. The main key assumptions used in estimating the value in use are discount rate, growth rate and competitive, economic and regulatory factors applied to determine cash flow projections, such as oil and gas prices, average number of active oil and gas drilling rigs (rig count) and raw material costs.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In December 2025, even though the Company did not identify any impairment indicators, it conducted impairment tests for the CGUs </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that carry significant </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">goodwill</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> balances,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and no impairment charges were recorded. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The main discount rates used were in a range between 13.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% and 19.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">% and a nominal growth rate (which includes mainly the inflation impact on prices and costs) of 2% was considered.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For the CGUs carrying goodwill, a reasonably possible change in key assumptions would not cause the carrying amount to exceed its recoverable amount.</span> </p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">I</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n December 2024, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">even</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">though the Company did not identify any </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">impairment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">indicators, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">it </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">conducted impairment tests </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">or the CGUs with goodwill in their carrying amounts</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and no impairment charges were recorded.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The main discount rates used were in a range between <span style="border-left: none; border-right: none;">13.4</span>% and <span style="border-left: none; border-right: none;">18.2</span>% and a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> nominal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> growth rate</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (which includes mainly the inflation impact on prices and costs)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of <span style="border-left: none; border-right: none;">2</span>% was considered.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">or the CGUs carrying goodwill, a reasonably possible change in key assumptions would not cause the carrying amount to exceed </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">its </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recoverable amount. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify; font-family: 'Frutiger 45 Light';"><br/></p> <div> <div id="t_ft_MCOMWLTSTC00000000000000000000b"> </div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In December 2023</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsidering that</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recoverable amount of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CGU</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> obtained in prior year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">'</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> tests</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the assets and liabilities making up those units ha</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> not changed significantly, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">nor</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the key assumptions, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">concluded that impairment tests for previous years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">wer</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e still</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> valid</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> In addition, the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ompany ha</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> considered the impact of updating the main discount rates, applying rates in a range between 12.5% and 21.4%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for the CGUs under analysis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_6DYICBURS000000000000000000000fs">2023</span>, a nominal growth rate</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (which include</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> mainly the inflation impact on prices and costs)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of 2% was considered.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Based on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the facts </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">mentioned above, the Company </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">did not recognize any</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> impairment charge</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">for the year <span id="fs_J5EK4O9DK000000000000000000000fs">2023</span>.</span></p> 0.135 0.194 0.02 0.134 0.182 0.02 0.125 0.214 0.02 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 22.4pt; text-indent: -22.4pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_2QGZJJRSY800000000000000000000fs">6           </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Other operating income and expenses</span></div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_HAJLYN9GLC00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 306px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 34.2045%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_SREXJFYFGG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_ZQ3U2RFYDC00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_RJ77FPRH6O00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Other operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Results from sundry assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,127 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,529 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,960 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net rents </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,188 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,417 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,702 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Reclassification of currency translation adjustment reserve </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JU742D1IKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_J1USZ740QO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 878 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bargain purchase gain </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ORLJG5OL9S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,162 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Result on sale of Venezuela awards </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EY865UX8Y800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_U3FR17IV6800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 33,341 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,474 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 43,492 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WFKB1Y6MC000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 23,789 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 60,650 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 53,043 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Other operating expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Contributions to welfare projects and non-profit organizations </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (17,445 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (17,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15,538 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for doubtful receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (631 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (107 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Provision for the ongoing litigation related to the acquisition of participation in Usiminas </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (14,414 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (107,215 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SQ5623AXUO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other expense </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VSWRMB17EO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_P14L8PJUK000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,628 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (32,490 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.13636%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (125,418 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (17,273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other operating income and expenses, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (8,701 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.13636%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (64,768 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 35,770 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> </tr> </tbody> </table> </div> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><br/></span></h3> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Other operating income</span></h3> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Bargain purchase gain:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the year </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_E535SYG8K000000000000000000000fs">2024</span>, related to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Mattr’s pipe coating business unit acquisition.</span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the year </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IYT5HY1D9S00000000000000000000fs">2023</span>, related</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Isoplus anticorrosion coating division acquisition. </span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Result on sale of Venezuela awards:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the year </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_DSGU5Q9RMO00000000000000000000fs">2023</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">related to the transfer of the awards obtained in connection with the nationalizations of the Company’s interests in its majority-owned subsidiaries TAVSA – Tubos de Acero de Venezuela S.A., Matesi Materiales Siderúrgicos S.A. and Complejo Siderúrgico de Guayana, C.A.</span></p> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other income:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> For the year <span style="border-left: none; border-right: none;"><span id="fs_4UWJS0URN400000000000000000000FM">2025</span></span>, includes mainly $17.6 million related to the recovery of various legal proceedings in Brazil and $7 million related to an insurance recovery.</span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> </span></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Other operating expenses</span></h3> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Provision for the ongoing litigation related to the acquisition of participation in Usiminas:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> For the year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_DX7UMPT75C00000000000000000000fs">2024</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_9ZWLELY80W00000000000000000000fs">2025</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, related to the provision </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">described in note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PW5KQD0KSW00000000000000000000fs">27</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“Contingencies, commitments and restrictions to the distribution of profits - </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Contingencies - </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">CSN claims relating to the January 2012 acquisition of Usiminas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”, and does not include the net foreign exchange result.</span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 306px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 34.2045%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_SREXJFYFGG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_ZQ3U2RFYDC00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_RJ77FPRH6O00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Other operating income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Results from sundry assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,127 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,529 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,960 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net rents </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,188 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,417 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,702 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Reclassification of currency translation adjustment reserve </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JU742D1IKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_J1USZ740QO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 878 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bargain purchase gain </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ORLJG5OL9S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,162 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Result on sale of Venezuela awards </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EY865UX8Y800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_U3FR17IV6800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 33,341 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,474 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 43,492 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WFKB1Y6MC000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 23,789 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 60,650 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 53,043 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Other operating expenses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Contributions to welfare projects and non-profit organizations </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (17,445 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (17,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15,538 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for doubtful receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (631 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (107 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Provision for the ongoing litigation related to the acquisition of participation in Usiminas </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (14,414 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.13636%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (107,215 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SQ5623AXUO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other expense </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VSWRMB17EO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_P14L8PJUK000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,628 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (32,490 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.13636%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (125,418 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (17,273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.13636%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02273%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 64.8864%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other operating income and expenses, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (8,701 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.13636%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (64,768 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 35,770 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02273%; height: 17px;"><span style="font-weight: bold;"><br/></span></td> </tr> </tbody> </table> 7127000 10529000 10960000 4188000 4417000 4702000 878000 2212000 3162000 33341000 12474000 43492000 23789000 60650000 53043000 17445000 17657000 15538000 631000 546000 107000 14414000 107215000 1628000 32490000 125418000 17273000 -8701000 -64768000 35770000 17600000 7000000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">7           </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Financial results</span></div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_6HEPQ0OWWG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 190px;border-collapse: collapse;margin-left: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 20px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 33.8483%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 20px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: left;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_KA9GXSQONK00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_R1BGOZX72800000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_C7A7CGSI5C00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Interest income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; width: 9.97191%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 228,369 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; width: 9.97191%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 229,835 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; width: 9.97191%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 201,852 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Net result on changes in FV of financial assets at FVPL </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 23,869 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,622 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Finance income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 252,238 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 242,319 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 213,474 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Finance cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (46,933 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (61,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (106,862 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Net foreign exchange transactions results </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (30,394 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,395 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 218,383 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Net foreign exchange derivatives contracts results </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (26,291 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (12,727 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15,979 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (100,719 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (95,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other financial results, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (72,664 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (52,051 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 114,365 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Net financial results </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 132,641 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 129,056 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 220,977 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Finance Income: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_78F1SW8RDC00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QGYRAW2RQ800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_AS0QX5DZF400000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_G56IIKZYPC00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_BDM475OSV400000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_UYXAMBLMK000000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> includes</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">36.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">40.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">61.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of interest related to instruments carried at FVPL, respectively. </span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_R4M8XXXX1S00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SPHMACK8O000000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_9A62EV1PWW00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_UOYP1QMQYO00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_OA1SAGR8VK00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_9MPNODLP1C00000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> includes </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">83.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="border-left: none; border-right: none;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">88.2</span></span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">30.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million of interest related to instruments carried at FV</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">OCI</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Net foreign exchange transactions results:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_PND6Y16VPC00000000000000000000fs">2025</span> mainly includes result from the Argentine peso depreciation against the U.S. dollar on Argentine peso denominated net financial position at subsidiaries with functional currency U.S. dollar, the result from Euro appreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. dollar, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">partially </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">offset by changes in currency translation adjustment reserve from an Italian subsidiary </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reco</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">gnized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other Comprehensive Income</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the result from </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Mexican peso appreciation against the U.S. dollar on Mexican peso denominated receivables, at subsidiaries with functional currency U.S. dollar.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_CIGYNZBL1C00000000000000000000fs">2024</span> mainly includes result from the Argentine peso depreciation against the U.S. dollar on Argentine peso denominated net financial position at subsidiaries with functional currency U.S. dollar, the Brazilian real </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">de</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">preciation against the U.S. dollar on Brazilian denominated net financial position at subsidiaries with functional currency U.S. dollar, together with the result from Euro </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">de</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">preciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. dollar, offset by</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> changes</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in currency translation adjustment reserve from an Italian subsidiary</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reco</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">gnized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other Comprehensive Income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_ZIIGZZTO4W00000000000000000000fs">2023</span> mainly includes result from the Argentine peso depreciation against the U.S. dollar on Argentine peso denominated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net financial position</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at subsidiaries with functional currency U.S. dollar, the Brazilian real appreciation against the U</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S. dollar on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Brazilian denominated</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net financial position</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> at subsidiaries with functional currency U.S. dollar, together with the result from Euro appreciation against the U.S. dollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. dollar, offset by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">changes</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in currency translation adjustment reserve from an Italian subsidiary</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reco</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">gnized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other Comprehensive Income</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Net f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">oreign exchange derivatives contracts results:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_TYORTMHFG000000000000000000000fs">2025</span> includes mainly losses on derivatives covering receivables in Mexican peso.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_S9LLN6J1TS00000000000000000000fs">2024</span> includes mainly losses on derivatives covering net </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">receivables, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fiscal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and other</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> liabilities</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in Brazilian real.</span></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_3XT193STZ400000000000000000000fs">2023</span> includes mainly losses on derivatives covering net receivables in Brazilian real.</span></p> <p style="font-family: 'Frutiger 45 Light';font-size: 10pt;line-height: 1.2;margin: 0pt;text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light';font-size: 10pt;line-height: 1.2;margin: 0pt;text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">both </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_0U0RA8TAS000000000000000000000fs">2025</span> and <span id="fs_T68SMXS4LC00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Z49H35XMM800000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> includes </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">losses for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$16 million, related to fee</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> payable in connection with collection</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> involving the Company’s Mexican subsidiary.</span></p> <p style="font-family: 'Frutiger 45 Light';font-size: 10pt;line-height: 1.2;margin: 0pt;text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_SBLORDX7SG00000000000000000000fs">2024</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> also</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">includes</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$84 million related to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">result of U.S. dollar denominated Argentine bonds </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">used to cancel commercial debt</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light';font-size: 10pt;line-height: 1.2;margin: 0pt;text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_XJYFU7RIXC00000000000000000000fs">2023</span> includes a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">net </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">loss of $94.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">related to the transfer of Argentine sovereign bonds paid as dividend in kind from Argentinian subsidiar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to its</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> foreign</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shareholders.</span></p> <table cellpadding="0" cellspacing="0" style="height: 190px;border-collapse: collapse;margin-left: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 20px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 33.8483%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 20px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: left;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_KA9GXSQONK00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_R1BGOZX72800000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_C7A7CGSI5C00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Interest income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; width: 9.97191%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 228,369 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; width: 9.97191%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 229,835 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; width: 9.97191%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 201,852 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 0.983146%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Net result on changes in FV of financial assets at FVPL </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 23,869 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,622 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Finance income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 252,238 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 242,319 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 213,474 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Finance cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (46,933 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (61,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (106,862 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Net foreign exchange transactions results </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (30,394 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,395 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 218,383 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Net foreign exchange derivatives contracts results </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (26,291 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (12,727 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15,979 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (100,719 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (95,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other financial results, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (72,664 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (52,051 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 114,365 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.983146%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 64.8876%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Net financial results </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 132,641 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 129,056 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.97191%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 220,977 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px; width: 0.983146%;"><br/></td> </tr> </tbody> </table> 228369000 229835000 201852000 23869000 12484000 11622000 252238000 242319000 213474000 46933000 61212000 106862000 -30394000 61395000 218383000 -26291000 -12727000 -8974000 15979000 100719000 95044000 -72664000 -52051000 114365000 132641000 129056000 220977000 36900000 40700000 61200000 83700000 88200000 30900000 16000000 16000000 84000000 94700000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_HOAN86QZA800000000000000000000fs">8           </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Equity in earnings of non-consolidated companies</span></div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_X9CFZFRWPC00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: &quot;times new roman&quot;; font-size: 10pt; border-collapse: collapse; margin: 0px 0px 0px 0.1px; text-indent: 0px; width: 100%; height: 119px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 34.2488%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1RXOU96IAO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_M27JCXT5TS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.443%; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_I6VUS66N9C00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.8921%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Earnings from non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.92806%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,038 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.00719%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.00719%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.92806%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.443%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.00719%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.92806%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 104,897 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.00719%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Remeasurement of previously held interest </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GKF7FEIKKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_V2DF500V9C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.443%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,506 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bargain purchase gain </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7T68MNU1VK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WNDVUMQV4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.443%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,487 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.00719%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net loss related to participation increase in Usiminas </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JUT1YVCY0W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KXQ86REPMO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.443%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (25,486 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 58,038 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 8,548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.443%; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 95,404 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Earnings f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">rom non-consolidated companies: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the year ended December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2LG76JZORK00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SFW7D9A4V400000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_ICXZMTTZXC00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_YTK5M8X2WW00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, includes a loss of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">12.4</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">43.3 </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> related to a provision for the ongoing litigation related to the acquisition of participation in Usiminas.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Remeasurement of previously held interest</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> and Bargain purchase gain</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For year ended December 31, 2023</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">elated to GPC acquisition.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Net loss related to participation increase in Usiminas: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For more information see note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZBYDJP2J2800000000000000000000fs">14</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> “Investments in non-consolidated companies - </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Usiminas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”.</span></p> <table cellpadding="0" cellspacing="0" style="font-family: &quot;times new roman&quot;; font-size: 10pt; border-collapse: collapse; margin: 0px 0px 0px 0.1px; text-indent: 0px; width: 100%; height: 119px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 34.2488%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1RXOU96IAO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_M27JCXT5TS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.443%; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_I6VUS66N9C00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.8921%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Earnings from non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.92806%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,038 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.00719%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.00719%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.92806%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.443%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.00719%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.92806%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 104,897 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.00719%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Remeasurement of previously held interest </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GKF7FEIKKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_V2DF500V9C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.443%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,506 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bargain purchase gain </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7T68MNU1VK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WNDVUMQV4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.443%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,487 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.00719%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net loss related to participation increase in Usiminas </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JUT1YVCY0W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KXQ86REPMO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.443%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (25,486 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.00719%;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 64.8921%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 58,038 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 8,548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.443%; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.92806%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 95,404 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.00719%;"><br/></td> </tr> </tbody> </table> 58038000 8548000 104897000 4506000 11487000 25486000 58038000 8548000 95404000 -12400000 -43300000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_LR18AKB2I800000000000000000000fs">9           </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Income tax</span></div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_YB9SVNRI1S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 85px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 65%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_C9Q2KT7AGG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_WZWZZ2AMR400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_NDGGWPE1CG00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (562,216 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (651,769 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (868,695 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,600 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 172,089 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 193,739 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tax charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (500,616 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (479,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (674,956 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is within the scope of the OECD Pillar <span style="border-left: none; border-right: none;">Two</span> model rules. Pillar <span style="border-left: none; border-right: none;">Two</span> legislation was </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">adopted</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in Luxembourg, the jurisdiction in which the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ompany is incorporated, and came into effect </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from January 1, 2024. </span><span style="-sec-ix-hidden:Tag17"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> applies the exception </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">regarding the r</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ecogni</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tion</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and disclos</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ure of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> deferred tax assets and liabilities related to Pillar <span style="border-left: none; border-right: none;">Two</span> income taxes</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, as provided</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the amendments to IAS <span style="border-left: none; border-right: none;">12</span> issued in May 2023. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For the year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s <span id="fs_Q7G6L1K7UO00000000000000000000fs">2025</span> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XKX57X2AA800000000000000000000fs">2024</span>, Tenaris recognized an estimated current tax expense related to Pillar <span style="border-left: none; border-right: none;">Two</span>, amounting to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">20.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">81.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div> <div id="t_ft_H6CZZOMB9S00000000000000000000b"> </div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The tax charge differs from the theoretical amount that would arise by applying the nominal tax rate valid in each jurisdiction to the group's pre-tax income in that jurisdiction as follows:</span></p> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_XARH38NU8W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 165px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 18px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_27UWHBQU5C00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_RNQ0LQLR3K00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_J280S4VRYO00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,473,895 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,556,453 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,632,789 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tax calculated at the tax rate in each country </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (600,820 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (599,944 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,127,428 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Effect of currency translation on tax base </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (97,197 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (340,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (346,573 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Changes in the tax rates </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,055 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (24,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,535 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Utilization of previously unrecognized tax losses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 219 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 588 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 787 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tax revaluation, withholding tax and others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 195,127 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 483,789 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 796,723 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 11px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 11px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tax charges </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (500,616 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (479,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (674,956 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Effect of currency translation on tax base</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris applies the liability method to recognize deferred income tax on temporary differences between the tax bases of assets / liabilities and their carrying amounts in the financial statements. By application of this method, Tenaris recognizes gains and losses on deferred income tax due to the effect of the change in the value on the tax bases in subsidiaries (mainly Argentina and Mexico), which have a functional currency different than their local currency. These gains and losses are required by IFRS even though the revalued / devalued tax bases of the relevant assets will not result in any deduction / obligation for tax purposes in future periods.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Changes in the tax rates: </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For the year <span id="fs_IU50259U7400000000000000000000fs">2024</span>, the effect relates to the impact of the reduction in Luxembourg's corporate income tax rate that made the blended tax rate for a company registered in Luxembourg </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">City</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> decrease from 24.94% to 23.87%. The new blended tax rate is applicable for fiscal years beginning on or after January 1, 2025, but its effect over temporary differences </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">was</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> recognized </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_DI9H19WW4W00000000000000000000fs">2024</span>.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Tax revaluation, withholding tax and others:</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Includes a positive effect from inflationary tax adjustments in Argentina and Mexico of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">168.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">368.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">349.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for the years <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BYFOMO11I800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NHW0991BMO00000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">It also includes a charge of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">30.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">20.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">164.3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for the years <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively related to withholding taxes for intra-group international operations.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The years <span id="fs_GA42LRK40000000000000000000000fs">2025</span> and <span id="fs_O4EU2WJSCG00000000000000000000fs">2024</span> include a charge of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">20.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">81.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, respectively, related to Pillar <span id="fs_GY3HPW1APC00000000000000000000fs">Two</span>.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The years </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XHIP6VT61S00000000000000000000fs">2025</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_S4XOKQA4U800000000000000000000fs">2024</span> and <span id="fs_1IONRUPIW000000000000000000000fs">2023</span> include a positive effect of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">78.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">186.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">550.3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, respectively, arising from the recognition of tax losses carryforward deferred tax assets in the Luxembourg subsidiary. For the year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s <span id="fs_SNNN1QN8A800000000000000000000fs">2025</span> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_0Q1GQYYLSG00000000000000000000fs">2024</span>, the consumption of such deferred tax assets for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">82.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">86.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> included in the line “Tax calculated at the tax rate of each country”. For more information see note <span id="fs_FL9CNKF7S000000000000000000000fs">22</span>.</span></p> <table cellpadding="0" cellspacing="0" style="height: 85px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 65%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_C9Q2KT7AGG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_WZWZZ2AMR400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_NDGGWPE1CG00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (562,216 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (651,769 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (868,695 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,600 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 172,089 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 193,739 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tax charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (500,616 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (479,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (674,956 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> </tbody> </table> 562216000 651769000 868695000 -61600000 -172089000 -193739000 500616000 479680000 674956000 20700000 81400000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 165px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 18px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_27UWHBQU5C00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_RNQ0LQLR3K00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_J280S4VRYO00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income before income tax </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,473,895 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,556,453 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,632,789 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tax calculated at the tax rate in each country </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (600,820 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (599,944 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,127,428 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Effect of currency translation on tax base </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (97,197 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (340,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (346,573 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Changes in the tax rates </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,055 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (24,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,535 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Utilization of previously unrecognized tax losses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 219 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 588 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 787 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tax revaluation, withholding tax and others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 195,127 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 483,789 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 796,723 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 11px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 11px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tax charges </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (500,616 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (479,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (674,956 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 11px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> </tbody> </table> 2473895000 2556453000 4632789000 600820000 599944000 1127428000 97197000 340094000 346573000 -2055000 24019000 -1535000 -219000 -588000 -787000 -195127000 -483789000 -796723000 500616000 479680000 674956000 0.2494 0.2387 168700000 368200000 349000000 30900000 20000000 164300000 20700000 81400000 78400000 186000000 550300000 82200000 86900000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify; font-family: 'Frutiger 45 Light';"><a href="#TOC" id="BSB-11_191202619552659" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_JEMTSWDT8W00000000000000000000fs">10</span>         </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Dividends distribution</span></a></div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On October 29, 2025, the Company’s Board of Directors approved the payment of an interim dividend of $0.29 per outstanding share ($0.58 per ADS), or approximately $0.3 billion, pa</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">id</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on November 26, 2025, with record date on November 25, 2025.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On May 6, 2025, the Company’s shareholders approved an annual dividend in the amount of $0.83 per outstanding share ($1.66 per ADS). The amount approved by the shareholders included the interim dividend previously paid on November 20, 2024, in the amount of $0.27 per outstanding share ($0.54 per ADS). The </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">remaining </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">balance, amounting to $0.56 per outstanding share ($1.12 per ADS), was paid on May 21, 2025, for an amount of approximately $0.6 billion. In the aggregate, the interim dividend paid in November 2024 and the balance paid in May 2025 amounted to approximately $0.9 billion.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On April 30, 2024, the Company’s shareholders approved an annual dividend in the amount of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.60</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> per outstanding share ($</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> per ADS). The amount approved by the shareholders included the interim dividend previously paid </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n November 2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CV48E3HIDC00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PGO26PA9KW00000000000000000000fs">2023</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the amount of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> per outstanding share ($</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.40</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> per ADS). The </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">remaining </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">balance, amounting to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.40</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> per outstanding share ($</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.80</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> per ADS), was paid on May 22, 2024, for an amount of approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.5</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">illion. In the aggregate, the interim dividend paid in November 2023 and the balance paid in May 2024 amounted to approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.7</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">illion.</span></p> 0.29 0.58 300000000 0.83 1.66 0.27 0.54 0.56 1.12 600000000 900000000 0.6 1.2 0.2 0.4 0.4 0.8 500000000 700000000 <div style="margin: 0pt 0pt 0pt 0pt; text-align: justify;"><a href="#TOC" id="BSB-12_1912026195944961" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">11        </span></span><span style="font: 7.0pt 'Times New Roman';"> </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">Property, plant and equipment, net</span></a></div> <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: -35pt;"> <br/></p> <div style="border-left: none; border-right: none;"> <div id="fs_6W7FA9PDHS00000000000000000000B"> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 321px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Land and civil buildings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Industrial buildings, plant and production equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Vehicles, furniture and fixtures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Work in progress </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Spare parts and equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.4771%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.4771%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.4771%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 935,704 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 13,903,542 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 424,042 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 372,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 81,438 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,717,716 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Accumulated depreciation and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (178,294 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,030,040 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (350,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_7NSCOQXXY800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (37,431 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,596,245 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: left;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Property, plant and equipment, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 757,410 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 4,873,502 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 73,562 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 372,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 44,007 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 6,121,471 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 8,279 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 56,463 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 640 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 6,188 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 364 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 71,934 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Increase due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light';">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 14,352 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_EI0ETWNAW000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_IIRW3S0CWG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_RQIMVMX17400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 16,342 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_B61NSTLTEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 3,164 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 598 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 550,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 13,758 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 568,421 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 83,893 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 464,662 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 39,070 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (586,719 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_HIGQSFNHOG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Decrease due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light';">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_TC91JVD1KW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (362 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (11 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_95KBF9ABM800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_H53GB82M1S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (373 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Disposals / Consumptions </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light';">(***)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (57,445 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (818 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (461 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (6,369 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (6,849 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (71,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Depreciation charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (14,728 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (464,041 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (20,666 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_HJNX5X643K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,242 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (501,677 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 21,989 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 73,420 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 19,170 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (35,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 5,031 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 83,611 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 967,135 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 14,517,757 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 458,610 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 336,991 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 89,139 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 16,369,632 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Accumulated depreciation and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (187,736 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,570,835 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (365,878 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_JHLF9ME8XS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (40,101 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (10,164,550 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 12px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 12px;" valign="bottom"> <p style="margin: 0pt; text-align: left;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Property, plant and equipment, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 779,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 4,946,922 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 92,732 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 336,991 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 49,038 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 6,205,082 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt 0pt 0pt 35pt; text-align: justify; text-indent: -35pt;"><br/></p> <div> <div style="border-left: none; border-right: none;"> </div> </div> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="height: 340px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 34px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 34px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Land and civil buildings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Industrial buildings, plant and production equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Vehicles, furniture and fixtures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Work in progress </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Spare parts and equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.32979%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 889,957 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 13,538,273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 416,913 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 396,103 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 71,834 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,313,080 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Accumulated depreciation and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (164,894 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (8,696,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (351,309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_Y2EMJ3RPQ800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (22,654 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,234,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Property, plant and equipment, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 725,063 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 4,842,229 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 65,604 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 396,103 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 49,180 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 6,078,179 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (4,637 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (26,793 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (266 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (4,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (161 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (36,248 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light';">(****)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 12,949 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (24,063 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_L2VG1MWDEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 653 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_H47TDGSZAO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (10,461 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 2,176 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,028 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 433 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 616,218 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,658 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 635,513 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 48,322 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 550,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 29,681 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (633,440 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_EM7H4X89VK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (4,546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Disposals / Consumptions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (10,197 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (12,526 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,183 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,153 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (5,704 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (31,763 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Depreciation charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (16,266 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (457,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (20,707 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_E71ZB57KGG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (14,966 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (509,203 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 32,347 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 31,273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 7,958 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (23,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (5,173 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 43,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 935,704 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 13,903,542 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 424,042 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 372,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 81,438 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,717,716 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Accumulated depreciation and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (178,294 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,030,040 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (350,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_136YIETN4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (37,431 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,596,245 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Property, plant and equipment, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 757,410 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 4,873,502 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 73,562 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 372,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 44,007 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 6,121,471 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; text-align: justify;"><br/></p> <div style="border-left: none; border-right: none;"> <table style="width: 100%; margin-left: 0.1px; height: 68px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 17px;"> <td style="width: 2%; height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span style="border-left: none; border-right: none;">2025</span>, related to the acquisition of a scrap processing </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">business</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"> in Beaver Falls, Pennsylvania</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"><span style="border-left: none; border-right: none;">34</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span style="border-left: none; border-right: none;">2025</span>,</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">related to the deconsolidation of Amaja Tubular Services Limited.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(***) </span>}</span></td> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span style="border-left: none; border-right: none;">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"><span style="border-left: none; border-right: none;">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"> includes the unwinding of certain land plots in Saudi Arabia. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"><span style="border-left: none; border-right: none;">28</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">(*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">)</span>}</span></td> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span style="border-left: none; border-right: none;">2024</span>, related </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">to Mattr’s pipe coating business unit acquisition</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">.</span></span></td> </tr> </tbody> </table> </div> </div> </div> <p style="margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">Property, plant and equipment include capitalized interests for net amounts at December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> and <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">25.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">27.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> million, respectively. There were no new interests capitalized during <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> and <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">. </span></p> <p style="margin: 0pt;"><br/></p> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">Government grants recognized as a reduction of property, plant and equipment </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">were not material </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">for the year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">s</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;">2025</span> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2024</span>.</span></p> <p style="margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="color: #212121; font-family: 'Frutiger 45 Light'; font-size: 10pt;">The Company’s Brazilian subsidiary Confab Industrial S.A. (“Confab”) holds certain real estate assets, with a carrying value of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">33.4</span><span style="color: #212121; font-family: 'Frutiger 45 Light'; font-size: 10pt;"> million, that are subject to a judicial mortgage aimed at securing the indemnification potentially payable to Companhia Siderúrgica Nacional (“CSN") under a lawsuit brough</span><span style="color: #212121; font-family: 'Frutiger 45 Light'; font-size: 10pt;">t</span><span style="color: #212121; font-family: 'Frutiger 45 Light'; font-size: 10pt;"> by CSN against Confab and other related companies. The litigation is currently pending, and no amount is currently owed by Confab. See note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;">27</span></span> <span style="color: #212121; font-family: 'Frutiger 45 Light'; font-size: 10pt;">(i) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">“Contingencies, commitments and restrictions to the distribution of profits - </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;">Contingencies - </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;">CSN claims relating to the January 2012 acquisition of Usiminas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">”.</span> </p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">For the year <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> and <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span style="border-left: none; border-right: none;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">, the carrying amount of assets pledged as security for current and non-current borrowings amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">49.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">147.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">, respective</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">ly</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> held in Saudi Arabia by the Company´s subsidiary GPC, in which SSPC holds a 57.3% interest.</span></p> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 321px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Land and civil buildings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Industrial buildings, plant and production equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Vehicles, furniture and fixtures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Work in progress </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Spare parts and equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.4771%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.4771%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.4771%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 7.97774%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02041%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 935,704 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 13,903,542 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 424,042 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 372,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 81,438 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,717,716 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Accumulated depreciation and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (178,294 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,030,040 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (350,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_7NSCOQXXY800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (37,431 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,596,245 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: left;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Property, plant and equipment, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 757,410 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 4,873,502 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 73,562 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 372,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 44,007 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 6,121,471 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 8,279 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 56,463 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 640 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 6,188 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 364 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 71,934 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Increase due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light';">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 14,352 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_EI0ETWNAW000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_IIRW3S0CWG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_RQIMVMX17400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 16,342 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_B61NSTLTEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 3,164 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 598 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 550,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 13,758 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 568,421 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 83,893 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 464,662 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 39,070 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (586,719 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_HIGQSFNHOG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Decrease due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light';">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_TC91JVD1KW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (362 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (11 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_95KBF9ABM800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_H53GB82M1S00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (373 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Disposals / Consumptions </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light';">(***)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (57,445 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (818 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (461 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (6,369 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (6,849 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (71,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Depreciation charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (14,728 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (464,041 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (20,666 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_HJNX5X643K00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,242 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (501,677 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 21,989 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 73,420 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 19,170 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (35,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 5,031 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 83,611 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 967,135 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 14,517,757 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 458,610 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 336,991 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 89,139 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 16,369,632 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.02041%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41.0019%; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Accumulated depreciation and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (187,736 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,570,835 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (365,878 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_JHLF9ME8XS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (40,101 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.4771%; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (10,164,550 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; height: 17px;">)</td> </tr> <tr style="height: 12px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 41.0019%; height: 12px;" valign="bottom"> <p style="margin: 0pt; text-align: left;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Property, plant and equipment, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 779,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 4,946,922 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 92,732 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 336,991 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 49,038 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.4771%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 7.97774%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 6,205,082 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.02041%; height: 12px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt 0pt 0pt 35pt; text-align: justify; text-indent: -35pt;"><br/></p> <div> <div style="border-left: none; border-right: none;"> </div> </div> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="height: 340px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 34px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 34px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Land and civil buildings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Industrial buildings, plant and production equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Vehicles, furniture and fixtures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Work in progress </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Spare parts and equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 34px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.32979%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02041%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 889,957 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 13,538,273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 416,913 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 396,103 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 71,834 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,313,080 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Accumulated depreciation and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (164,894 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (8,696,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (351,309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_Y2EMJ3RPQ800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (22,654 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,234,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Property, plant and equipment, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 725,063 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 4,842,229 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 65,604 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 396,103 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 49,180 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 6,078,179 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (4,637 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (26,793 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (266 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (4,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (161 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (36,248 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light';">(****)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 12,949 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (24,063 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_L2VG1MWDEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 653 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_H47TDGSZAO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (10,461 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 2,176 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,028 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 433 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 616,218 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,658 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 635,513 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 48,322 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 550,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 29,681 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (633,440 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_EM7H4X89VK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (4,546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Disposals / Consumptions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (10,197 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (12,526 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,183 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,153 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (5,704 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (31,763 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Depreciation charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (16,266 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (457,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (20,707 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_E71ZB57KGG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (14,966 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (509,203 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 32,347 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 31,273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 7,958 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (23,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (5,173 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 43,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><span style="font-weight: bold;"><br/></span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 935,704 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 13,903,542 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 424,042 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 372,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 81,438 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,717,716 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02041%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Accumulated depreciation and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (178,294 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,030,040 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (350,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_136YIETN4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.32979%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (37,431 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,596,245 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.02041%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0019%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Property, plant and equipment, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 757,410 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 4,873,502 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 73,562 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 372,990 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 44,007 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 7.97774%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 6,121,471 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02041%;"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; text-align: justify;"><br/></p> <div style="border-left: none; border-right: none;"> <table style="width: 100%; margin-left: 0.1px; height: 68px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 17px;"> <td style="width: 2%; height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span style="border-left: none; border-right: none;">2025</span>, related to the acquisition of a scrap processing </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">business</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"> in Beaver Falls, Pennsylvania</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"><span style="border-left: none; border-right: none;">34</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span style="border-left: none; border-right: none;">2025</span>,</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">related to the deconsolidation of Amaja Tubular Services Limited.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(***) </span>}</span></td> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span style="border-left: none; border-right: none;">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"><span style="border-left: none; border-right: none;">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"> includes the unwinding of certain land plots in Saudi Arabia. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';"><span style="border-left: none; border-right: none;">28</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">(*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">)</span>}</span></td> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span style="border-left: none; border-right: none;">2024</span>, related </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">to Mattr’s pipe coating business unit acquisition</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">.</span></span></td> </tr> </tbody> </table> </div> 935704000 13903542000 424042000 372990000 81438000 15717716000 -178294000 -9030040000 -350480000 -37431000 -9596245000 757410000 4873502000 73562000 372990000 44007000 6121471000 8279000 56463000 640000 6188000 364000 71934000 1990000 14352000 16342000 3164000 598000 550901000 13758000 568421000 83893000 464662000 39070000 -586719000 906000 362000 11000 373000 57445000 818000 461000 6369000 6849000 71942000 14728000 464041000 20666000 2242000 501677000 21989000 73420000 19170000 -35999000 5031000 83611000 967135000 14517757000 458610000 336991000 89139000 16369632000 -187736000 -9570835000 -365878000 -40101000 -10164550000 779399000 4946922000 92732000 336991000 49038000 6205082000 889957000 13538273000 416913000 396103000 71834000 15313080000 -164894000 -8696044000 -351309000 -22654000 -9234901000 725063000 4842229000 65604000 396103000 49180000 6078179000 -4637000 -26793000 -266000 -4391000 -161000 -36248000 12949000 -24063000 653000 -10461000 2176000 1028000 433000 616218000 15658000 635513000 48322000 550891000 29681000 -633440000 -4546000 10197000 12526000 1183000 2153000 5704000 31763000 16266000 457264000 20707000 14966000 509203000 32347000 31273000 7958000 -23113000 -5173000 43292000 935704000 13903542000 424042000 372990000 81438000 15717716000 -178294000 -9030040000 -350480000 -37431000 -9596245000 757410000 4873502000 73562000 372990000 44007000 6121471000 25600000 27200000 33400000 49700000 147900000 0.573 <div style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><a href="#TOC" id="BSB-13_1912026202512693" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_Z4CRTMM0BK00000000000000000000fs">12        </span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';"> </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Intangible assets, net</span></a></div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <div id="fs_6MJ6A65TDS00000000000000000000B"> <div id="t_ft_B3LJP2XL0W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 338px;" width="100%"> <tbody> <tr style="height: 32px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 32px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Information system projects </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Licenses, patents and trademarks </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Goodwill </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Customer relationships </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 661,605 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 575,607 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,474,693 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,776,037 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,487,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated amortization and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (564,499 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (416,311 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,384,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,764,709 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,130,193 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 97,106 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 159,296 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,090,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,357,749 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 880 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 139 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Q2LUGSYGEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,026 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Increase due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_T8EI7QUCHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_1O1A11NNG000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,324 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BDZUCZ6RF400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,324 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37,449 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,313 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_9ZWJ3L81LS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SH7VSK1XI800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 48,762 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_296BETE85C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2RHKA4JANK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_89FCCG3ZIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Disposals </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VK5OZRVBPC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WBUPP3SI5C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_9MH0NA32U800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (30,036 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (9,460 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TJ54O3FPKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (11,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (50,824 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 7,372 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 1,860 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 1,463 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (11,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 692,274 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 586,938 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,476,156 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,776,057 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,531,425 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated amortization and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (587,796 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (425,782 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,384,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,776,057 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,174,309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 104,478 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 161,156 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,091,482 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_OG97GA412O00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,357,116 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_18JSA8WRYO00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;"> <tbody> <tr> <td style="width: 2%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes Proprietary Technology.</span></td> </tr> <tr> <td style="box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="box-shadow: none; vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span style="border-left: none; border-right: none;">2025</span>, related to the acquisition of a scrap processing </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">business</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> in Beaver Falls, Pennsylvania</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="border-left: none; border-right: none;">34</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> </tbody> </table> </div> <div> <div id="t_ft_V7DZNULC8000000000000000000000b"> </div> </div> <p style="margin: 0pt;"><br/></p> <div id="t_ft_UQLF3CUYS000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 341px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 30px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 30px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Information system projects </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Licenses, patents and trademarks </span>^{<span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit; font-size: 8pt;">(*)</span>}</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Goodwill </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Customer relationships </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 648,887 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 560,549 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,488,381 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,790,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,488,497 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated amortization and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (576,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (407,217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,384,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,742,774 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,111,387 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 72,165 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 153,332 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,103,707 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 47,906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,377,110 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (285 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (67 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (358 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 22px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 22px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HEOPQ4TPHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LNTCRRLLQO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (13,621 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.47493%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (14,590 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (28,211 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.03858%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 43,445 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AHQ51TJHXS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KBN93LMQLC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,443 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 70 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_F2KBEV86DS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CRPY4LAGSW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Disposals </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (31 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_401HHTFCHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VJJAVQAWIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_297V4NTJY800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (31 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (22,664 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (9,100 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GI8VZAZ3DS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (21,986 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (53,750 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 24,941 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 5,964 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (13,688 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.47493%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (36,578 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (19,361 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 661,605 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 575,607 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,474,693 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,776,037 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,487,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated amortization and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (564,499 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (416,311 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,384,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,764,709 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,130,193 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 97,106 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 159,296 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,090,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,357,749 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_2TKZO0D00000000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; height: 30px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;"> <tbody> <tr style="height: 17px;"> <td style="width: 2%; vertical-align: top; height: 17px; padding: 0px; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="font-size: 8pt;">^(*)</span> </span></td> <td style="width: 98%; vertical-align: top; height: 17px; padding: 0px; box-shadow: none;" valign="top"><span style="border-right: none; border-left: none;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes Proprietary Technology.</span></span></td> </tr> <tr style="height: 13px;"> <td style="vertical-align: top; height: 13px; padding: 0px; width: 2%; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">(</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">)</span>}</span></td> <td style="vertical-align: top; height: 13px; padding: 0px; width: 98%; box-shadow: none;" valign="top"> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-size: 9pt;"> <span style="border-right: none; border-left: none;">For the year <span style="border-left: none; border-right: none;">2024</span>, related to Mattr’s pipe coating business unit acquisition.</span></span></p> </td> </tr> </tbody> </table> </div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The geographical </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">allocation of goodwill </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">for the year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ended December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_N5XKP1W37K00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_T4HMISUCHC00000000000000000000fs">5</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">was $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">945.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for North America</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">111.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for South America</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">33.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Asia Pacific, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Middle East &amp; Africa</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">2.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for Europe</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The geographical allocation of goodwill for the year ended December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5BRIYSYUKW00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> was $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">944.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for North America, $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">111.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for South America, $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">33.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for Asia Pacific, Middle East &amp; Africa and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million for Europe.</span></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The carrying amount of goodwill allocated</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> by CGU, as of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_FD4KR69AGW00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_YQLPP5MYBK00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, was as follows:</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_EZG6U3YTLC00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 136px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (all amounts in millions of U.S. dollars) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 22.0073%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tubes Segment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> CGU </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Hydril Acquisition </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9335%; background-color: rgb(204, 238, 255); height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tamsa </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97582%; background-color: rgb(204, 238, 255); height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">346 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97582%; background-color: rgb(204, 238, 255); height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">19 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97582%; background-color: rgb(204, 238, 255); height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">365 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Siderca </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">265 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">93 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">358 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Hydril </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NA8VEPI9HS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QYRI2DDBFK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">59 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">59 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">920 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: &quot;Frutiger 45 Light&quot;;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">171 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">1,091</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"></td> </tr> </tbody> </table> </div> <div id="t_ft_B3LJP2XL0W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 338px;" width="100%"> <tbody> <tr style="height: 32px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 32px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Information system projects </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Licenses, patents and trademarks </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Goodwill </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Customer relationships </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 32px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 661,605 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 575,607 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,474,693 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,776,037 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,487,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated amortization and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (564,499 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (416,311 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,384,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,764,709 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,130,193 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 97,106 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 159,296 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,090,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,357,749 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 880 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 139 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Q2LUGSYGEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,026 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Increase due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_T8EI7QUCHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_1O1A11NNG000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,324 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BDZUCZ6RF400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,324 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37,449 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,313 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_9ZWJ3L81LS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_SH7VSK1XI800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 48,762 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_296BETE85C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2RHKA4JANK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_89FCCG3ZIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Disposals </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VK5OZRVBPC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WBUPP3SI5C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_9MH0NA32U800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (30,036 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (9,460 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TJ54O3FPKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (11,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (50,824 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 7,372 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 1,860 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 1,463 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (11,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 692,274 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 586,938 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,476,156 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,776,057 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,531,425 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated amortization and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (587,796 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (425,782 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,384,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,776,057 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,174,309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 104,478 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 161,156 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,091,482 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_OG97GA412O00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,357,116 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_18JSA8WRYO00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;"> <tbody> <tr> <td style="width: 2%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes Proprietary Technology.</span></td> </tr> <tr> <td style="box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="box-shadow: none; vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span style="border-left: none; border-right: none;">2025</span>, related to the acquisition of a scrap processing </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">business</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> in Beaver Falls, Pennsylvania</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="border-left: none; border-right: none;">34</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> </tbody> </table> </div> <div> <div id="t_ft_V7DZNULC8000000000000000000000b"> </div> </div> <p style="margin: 0pt;"><br/></p> <div id="t_ft_UQLF3CUYS000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 341px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 30px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 30px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Information system projects </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Licenses, patents and trademarks </span>^{<span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit; font-size: 8pt;">(*)</span>}</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Goodwill </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Customer relationships </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 30px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 648,887 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 560,549 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,488,381 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,790,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,488,497 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated amortization and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (576,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (407,217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,384,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,742,774 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,111,387 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 72,165 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 153,332 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,103,707 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 47,906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,377,110 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (285 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (67 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (358 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 22px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 22px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HEOPQ4TPHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LNTCRRLLQO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (13,621 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.47493%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (14,590 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (28,211 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 22px; width: 1.03858%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 43,445 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AHQ51TJHXS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KBN93LMQLC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,443 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 70 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_F2KBEV86DS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CRPY4LAGSW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Disposals </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (31 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_401HHTFCHS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VJJAVQAWIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_297V4NTJY800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (31 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Amortization charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (22,664 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (9,100 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GI8VZAZ3DS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (21,986 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (53,750 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 24,941 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 5,964 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (13,688 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.47493%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (36,578 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (19,361 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 661,605 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 575,607 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,474,693 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,776,037 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,487,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated amortization and impairment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (564,499 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (416,311 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,384,674 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.47493%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,764,709 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,130,193 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 39.6142%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.5341%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 97,106 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.089%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 159,296 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,090,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.47493%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.9792%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.890208%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.94065%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,357,749 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_2TKZO0D00000000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; height: 30px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;"> <tbody> <tr style="height: 17px;"> <td style="width: 2%; vertical-align: top; height: 17px; padding: 0px; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="font-size: 8pt;">^(*)</span> </span></td> <td style="width: 98%; vertical-align: top; height: 17px; padding: 0px; box-shadow: none;" valign="top"><span style="border-right: none; border-left: none;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes Proprietary Technology.</span></span></td> </tr> <tr style="height: 13px;"> <td style="vertical-align: top; height: 13px; padding: 0px; width: 2%; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">(</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">)</span>}</span></td> <td style="vertical-align: top; height: 13px; padding: 0px; width: 98%; box-shadow: none;" valign="top"> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-size: 9pt;"> <span style="border-right: none; border-left: none;">For the year <span style="border-left: none; border-right: none;">2024</span>, related to Mattr’s pipe coating business unit acquisition.</span></span></p> </td> </tr> </tbody> </table> </div> 661605000 575607000 2474693000 1776037000 5487942000 -564499000 -416311000 -1384674000 -1764709000 -4130193000 97106000 159296000 1090019000 11328000 1357749000 880000 7000 139000 1026000 1324000 1324000 37449000 11313000 48762000 -906000 -906000 15000 15000 30036000 9460000 11328000 50824000 7372000 1860000 1463000 -11328000 -633000 692274000 586938000 2476156000 1776057000 5531425000 -587796000 -425782000 -1384674000 -1776057000 -4174309000 104478000 161156000 1091482000 1357116000 648887000 560549000 2488381000 1790680000 5488497000 -576722000 -407217000 -1384674000 -1742774000 -4111387000 72165000 153332000 1103707000 47906000 1377110000 -285000 -4000 -67000 -2000 -358000 -13621000 -14590000 -28211000 43445000 14998000 58443000 4476000 70000 4546000 31000 31000 22664000 9100000 21986000 53750000 24941000 5964000 -13688000 -36578000 -19361000 661605000 575607000 2474693000 1776037000 5487942000 -564499000 -416311000 -1384674000 -1764709000 -4130193000 97106000 159296000 1090019000 11328000 1357749000 945500000 111000000 33000000 2000000 944200000 111000000 33000000 1800000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 136px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (all amounts in millions of U.S. dollars) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 22.0073%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tubes Segment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> CGU </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Hydril Acquisition </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 64.9335%; background-color: rgb(204, 238, 255); height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tamsa </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97582%; background-color: rgb(204, 238, 255); height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">346 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97582%; background-color: rgb(204, 238, 255); height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">19 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.97582%; background-color: rgb(204, 238, 255); height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">365 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.02781%; background-color: rgb(204, 238, 255); height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Siderca </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">265 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">93 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">358 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Hydril </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NA8VEPI9HS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QYRI2DDBFK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">59 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">59 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02781%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: rgb(204, 238, 255); height: 17px; width: 64.9335%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">920 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: &quot;Frutiger 45 Light&quot;;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">171 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 9.97582%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">1,091</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: rgb(204, 238, 255); border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: rgb(0, 0, 0) !important; border-bottom-color: rgb(0, 0, 0) !important; width: 1.02781%;"></td> </tr> </tbody> </table> 346000000 19000000 365000000 265000000 93000000 358000000 309000000 309000000 59000000 59000000 920000000 171000000 1091000000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><a href="#TOC" id="BSB-14_1912026213530832" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_4UEJPEI3RK00000000000000000000fs">13        </span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';"> </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Right-of-use assets, net and lease liabilities</span></a></div> <p style="line-height: 1.2; margin: 0pt;"> <br/></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Right of use assets evolution</span></h3> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"> <br/></h3> <div id="fs_T2YXORA2U800000000000000000000B"> <div id="t_ft_RABCIMO82O00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: &quot;times new roman&quot;; font-size: 10pt; text-indent: 0px; width: 100%; height: 299px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Land and civil buildings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Industrial buildings, plant and production equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Vehicles, furniture and fixtures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Values at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 184,895 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 56,482 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 312,161 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated depreciation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (36,797 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (93,893 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (30,832 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,771 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (163,293 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Right of use assets, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 29,735 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 91,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 25,650 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,481 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 148,868 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 93 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 355 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 669 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_MR157O0M8G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,117 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,101 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 29,122 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,995 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XNHCMPB4LC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 64,218 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 77 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 119 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (196 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7JAPXASR7400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GR49ZP4I8000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Disposals </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,501 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,993 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,483 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_3UARWN862800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (5,977 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (9,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (36,754 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (16,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,012 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (63,669 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 5,869 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (10,151 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 983 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (1,012 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (4,311 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Values at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 64,016 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 199,551 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 69,514 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 337,333 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated depreciation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (28,412 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (118,700 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (42,881 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,783 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (192,776 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Right of use assets, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 35,604 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 80,851 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 26,633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,469 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 144,557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_NY3R11JLKW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%; height: 265px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Land and civil buildings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Industrial buildings, plant and production equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Vehicles, furniture and fixtures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Values at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66,464 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 148,380 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 43,217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,668 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 261,729 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated depreciation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (27,972 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (75,567 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (25,229 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (823 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (129,591 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Right of use assets, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 38,492 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 72,813 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 17,988 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,845 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 132,138 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (99 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (156 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (280 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_A8ORP72MOG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (535 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,034 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 52,040 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 22,663 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 584 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,321 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,513 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,477 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 36 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2HQMJAHSE800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_R5E85GVKLC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Disposals </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (731 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,453 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (971 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_H2JJE5UNEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,155 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (20,448 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (34,719 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (13,786 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (948 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (69,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (8,757 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 18,189 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,662 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (364 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 16,730 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Values at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 184,895 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 56,482 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 312,161 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated depreciation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (36,797 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (93,893 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (30,832 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,771 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (163,293 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Right of use assets, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 29,735 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 91,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 25,650 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,481 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 148,868 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> </tbody> </table> </div> </div> <div> <div id="t_ft_JPZMIP43F400000000000000000000b"> </div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Depreciation of right-of-use assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> mainly included in Tubes segment.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Lease liability evolution</span></h3> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><br/></span></p> <div id="fs_E01OMJWNQ800000000000000000000B"> <div id="t_ft_9Q1SMS993400000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 156px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_LWCSPWDDN400000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_XRY7G1Y9R400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 77%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Opening net book amount </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 144,926 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 134,433 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_74Z8O9I8UO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (35 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,713 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,565 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 64,132 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,005 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cancellations </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,315 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,377 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Repayments </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (71,712 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (73,639 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest accrued </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,505 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,104 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 143,249 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 144,926 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_E5WBR1W7PC00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span id="fs_LGOFWZIEEO00000000000000000000fs">2024</span>, related to </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Mattr’s pipe coating business unit acquisitions</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> <tr> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">(</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">*)</span>}</span></td> <td style="vertical-align: top; box-shadow: none;" valign="top"> <p><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_IRPZ39RER400000000000000000000fs">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_WP9P73B8VK00000000000000000000fs">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> i</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">nclude</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">repayments of </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">66.9</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">in capital </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">and </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">4.8</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of interest</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></p> <p><span><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">F</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">or<span> </span></span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year<span> </span></span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_C2FEWP002800000000000000000000fs" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: default;">202</span></span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_JRTC9EV84G00000000000000000000fs" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: default;">4</span></span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">,</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span> </span>includes repayments of $</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">68.6</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span> </span>million in capital and $</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">5.1</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span> </span>million of interest</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></span></span></p> </td> </tr> </tbody> </table> </div> </div> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><br/></p> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_9HH9PN5U0W00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he amount of remaining payments with maturities of less than <span id="fs_CTMN4IH9BK00000000000000000000fs">1</span> year, between <span id="fs_OQ11BQ328000000000000000000000fs">2</span> and <span id="fs_5J881CY1HC00000000000000000000fs">5</span> years and more than <span id="fs_2UTE7CQL3400000000000000000000fs">5</span> years was approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">34%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">41%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">25%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively.</span></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"> <br/></p> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HQ2JWMK6S000000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the amount of remaining payments with maturities of less than <span id="fs_9MFY4KNTDC00000000000000000000fs">1</span> year, between <span id="fs_2C1OE0G47K00000000000000000000fs">2</span> and <span id="fs_5PBSI0VW7400000000000000000000fs">5</span> years and more than <span id="fs_1E3EZRKRKG00000000000000000000fs">5</span> years was approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">31%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">46%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">23%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Expense</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> relat</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to short-term leases</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">leases of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">low</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">value </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">assets</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and variable leases</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ost of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">ales and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">elling, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">g</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">eneral and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">dministrative </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">xpense</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">were</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> not material for the years <span id="fs_1LR1BU54HS00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IY1XBWSZTC00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_MCKZYT9W2800000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NMR4MEVZ5C00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6VV1CE5B9C00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <div id="t_ft_RABCIMO82O00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: &quot;times new roman&quot;; font-size: 10pt; text-indent: 0px; width: 100%; height: 299px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Land and civil buildings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Industrial buildings, plant and production equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Vehicles, furniture and fixtures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Values at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 184,895 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 56,482 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 312,161 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated depreciation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (36,797 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (93,893 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (30,832 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,771 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (163,293 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Right of use assets, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 29,735 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 91,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 25,650 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,481 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 148,868 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 93 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 355 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 669 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_MR157O0M8G00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,117 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,101 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 29,122 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,995 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XNHCMPB4LC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 64,218 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 77 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 119 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (196 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7JAPXASR7400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GR49ZP4I8000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Disposals </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,501 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,993 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,483 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_3UARWN862800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (5,977 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (9,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (36,754 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (16,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,012 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (63,669 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 5,869 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (10,151 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 983 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (1,012 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (4,311 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Values at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 64,016 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 199,551 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 69,514 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 337,333 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated depreciation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (28,412 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (118,700 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (42,881 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,783 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (192,776 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Right of use assets, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 35,604 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 80,851 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 26,633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,469 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 144,557 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_NY3R11JLKW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%; height: 265px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Land and civil buildings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Industrial buildings, plant and production equipment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Vehicles, furniture and fixtures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 41%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Values at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66,464 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 148,380 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 43,217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,668 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 261,729 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated depreciation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (27,972 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (75,567 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (25,229 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (823 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (129,591 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Right of use assets, net at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 38,492 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 72,813 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 17,988 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,845 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 132,138 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Currency translation adjustment </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (99 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (156 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (280 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_A8ORP72MOG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (535 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,034 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 52,040 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 22,663 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 584 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,321 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Transfers / Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,513 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,477 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 36 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2HQMJAHSE800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_R5E85GVKLC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Disposals </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (731 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,453 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (971 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_H2JJE5UNEO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,155 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Depreciation charge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (20,448 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (34,719 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (13,786 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (948 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (69,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (8,757 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 18,189 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,662 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (364 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><span style="font-weight: bold; font-family: 'Frutiger 45 Light';">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 16,730 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> Values at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 184,895 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 56,482 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 312,161 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Accumulated depreciation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (36,797 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (93,893 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (30,832 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,771 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (163,293 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 15px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 15px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Right of use assets, net at the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 29,735 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 91,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 25,650 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,481 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 148,868 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> </tbody> </table> </div> 66532000 184895000 56482000 4252000 312161000 -36797000 -93893000 -30832000 -1771000 -163293000 29735000 91002000 25650000 2481000 148868000 93000 355000 669000 1117000 17101000 29122000 17995000 64218000 77000 119000 -196000 1501000 2993000 1483000 5977000 9901000 36754000 16002000 1012000 63669000 5869000 -10151000 983000 -1012000 -4311000 64016000 199551000 69514000 4252000 337333000 -28412000 -118700000 -42881000 -2783000 -192776000 35604000 80851000 26633000 1469000 144557000 66464000 148380000 43217000 3668000 261729000 -27972000 -75567000 -25229000 -823000 -129591000 38492000 72813000 17988000 2845000 132138000 -99000 -156000 -280000 -535000 16034000 52040000 22663000 584000 91321000 -3513000 3477000 36000 731000 2453000 971000 4155000 20448000 34719000 13786000 948000 69901000 -8757000 18189000 7662000 -364000 16730000 66532000 184895000 56482000 4252000 312161000 -36797000 -93893000 -30832000 -1771000 -163293000 29735000 91002000 25650000 2481000 148868000 <div id="t_ft_9Q1SMS993400000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 156px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_LWCSPWDDN400000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_XRY7G1Y9R400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 77%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Opening net book amount </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 144,926 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 134,433 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_74Z8O9I8UO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (35 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,713 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,565 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 64,132 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,005 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cancellations </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,315 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,377 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Repayments </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (71,712 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (73,639 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest accrued </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,505 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,104 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 143,249 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 144,926 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_E5WBR1W7PC00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span id="fs_LGOFWZIEEO00000000000000000000fs">2024</span>, related to </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Mattr’s pipe coating business unit acquisitions</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> <tr> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">(</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">*</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">*)</span>}</span></td> <td style="vertical-align: top; box-shadow: none;" valign="top"> <p><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_IRPZ39RER400000000000000000000fs">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_WP9P73B8VK00000000000000000000fs">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> i</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">nclude</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">repayments of </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">66.9</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">in capital </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">and </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">4.8</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of interest</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></p> <p><span><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">F</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">or<span> </span></span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year<span> </span></span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_C2FEWP002800000000000000000000fs" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: default;">202</span></span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_JRTC9EV84G00000000000000000000fs" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: default;">4</span></span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">,</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span> </span>includes repayments of $</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">68.6</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span> </span>million in capital and $</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">5.1</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span> </span>million of interest</span><span style="color: #000000; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></span></span></p> </td> </tr> </tbody> </table> </div> 144926000 134433000 -35000 5713000 -4565000 64132000 91005000 6315000 8377000 71712000 73639000 6505000 6104000 143249000 144926000 66900000 4800000 68600000 5100000 0.34 0.41 0.25 0.31 0.46 0.23 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><a href="#TOC" id="BSB-15_1912026221239138" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_3VKL1OANXS00000000000000000000fs">14</span>        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Investments in </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">non-consolidated</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> companies</span></a></div> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_CVLV64V7G000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 136px; border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_2ITC6MCIPC00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_17X70NJQJ400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 77%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,608,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 21,692 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (47,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity in earnings of non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,038 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Dividends and distributions declared </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (62,022 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (71,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (Decrease) / increase in equity reserves and others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (153 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 45,357 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,561,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Dividends and distributions declared:</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Related to Ternium</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and Usiminas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_FCKBVBBIO000000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HII64VT8WG00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_QO8Q4UIM3400000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_J9M3EPWYI800000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TGKBCX6GHS00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">62.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">73.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> were collected</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The principal </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">non-consolidated</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> companies are:</span></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="t_ft_LXP3CAC85S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 117px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="3" style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> % ownership at December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Book value at December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Company </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Country of incorporation </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_7VVWUDK5VK00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_XL3QUIO0GG00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_4WI5VYVYSG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_CI9YHKELWW00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 22px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 30%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">a) Ternium </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 25%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Luxembourg </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11.46% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11.46% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,375,115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,377,911 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">b) Usiminas </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Brazil </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3.96% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3.96% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 108,574 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 102,812 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> c) Techgen </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Mexico </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 22.00% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 22.00% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 73,936 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 59,782 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Others </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,587 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,152 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,561,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_6KPI28SUU800000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; height: 34px;"> <tbody> <tr style="height: 17px;"> <td style="width: 2.14556%; vertical-align: top; box-shadow: none; height: 17px;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 97.8544%; vertical-align: top; box-shadow: none; height: 17px;" valign="top"><span style="font-size: 9pt;"><span style="font-size: 9pt;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">At December 31, 202</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_773MFEC5A800000000000000000000fs">5</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and <span id="fs_13N0C68YWW00000000000000000000fs">202</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_SE35MKOWQ800000000000000000000fs">4</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, the voting rights were </span></span></span><span style="border-left: none; border-right: none;"><span style="border-right: none; border-left: none;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">11.70</span></span></span></span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;">%.</span></td> </tr> <tr style="height: 17px;"> <td style="vertical-align: top; box-shadow: none; height: 17px; width: 2.14556%;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="vertical-align: top; box-shadow: none; height: 17px; width: 97.8544%;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">At December 31,</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_K6USYB6RY800000000000000000000fs">20</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_UV7F1UKPLC00000000000000000000fs">2</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_W11TI9XGHC00000000000000000000fs">5</span></span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">and <span id="fs_4IZ9AC1GE800000000000000000000fs">202</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_B4KXFI1ILS00000000000000000000fs">4</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, </span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the voting rights were 6.76</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">%</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> </tbody> </table> </div> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: normal; line-height: inherit;">a) Ternium</span></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Ternium</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is a steel producer with production facilities in Mexico,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Brazil, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Argentina, Colombia,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the Southern</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Un</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ited States and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Central America</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> is <span id="fs_6WSXZCKA1S00000000000000000000fs">one</span> of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> main suppliers of round steel bars and flat steel products for its pipes business.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_5AF1KXIPSW00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_W9QDK0L4DS00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the closing price of Ternium’s ADSs as quoted on the New York Stock Exchange was</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">38.19</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">per ADS, giving </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ownership stake a ma</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rket value of approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">877.3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_A87G2F4F4G00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7IZI31BWWG00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the carrying value of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ownership stake in Ternium, based on Ternium’s IFRS </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Financial S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ta</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tements, was approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,375.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The Company reviews its participation in Ternium whenever events or circumstances indicate that the asset’s carrying amount may not be recoverable</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_IA05ZOMRS000000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company concluded that</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the carrying amount does not exceed the recoverable value of the investment.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div> <div id="t_ft_S1EAWTX1CW00000000000000000000b"> </div> </div> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Summarized selected financial information of Ternium, including the aggregated amounts of assets, liabilities, revenues and profit or loss is as follows:</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="t_ft_T9FEV3D6PS00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 272px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit; font-family: 'Frutiger 45 Light';">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Ternium </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_PZDNA9D24G00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_D06XXGGSDS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Non-current assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13,818,723 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,050,457 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,796,368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,078,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 23,615,091 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 23,128,547 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Non-current liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,533,136 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,157,819 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,934,209 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,839,159 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,467,345 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 6,996,978 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 16,147,746 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 16,131,569 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Non-controlling interests </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,203,446 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,163,383 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Revenues </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 15,609,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,649,060 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Gross profit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,353,104 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,888,836 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net income / (loss) for the year attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 425,232 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (53,672 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other comprehensive income attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 80,913 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 211,817 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Total comprehensive income attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 506,145 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 158,145 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: normal; line-height: inherit;">b) Usiminas</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Usiminas is a Brazilian producer of high</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">quality flat steel products used in the energy, automotive and other industries.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BRTGJP2HUO00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AT4KHZS9SG00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the closing price of the Usiminas’ ordinary and preferred shares, as quoted on the B<span id="fs_YO0AMLAGY800000000000000000000fs">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> - Brasil Bolsa Balcão S.A</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, was BRL</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">5.96</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ($</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.08</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">) and BRL</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">5.95</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ($</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.08</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">), respectively, giving Tenaris’s ownership stake a market value of approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">52.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million. As</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that date, the carrying value of Tenaris’s ownership stake in Usiminas was approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">108.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The difference between the carrying value of Tenaris’s ownership stake in Usiminas and its interest over Usiminas’ shareholders’ equity corresponds to the purchase price allocation performed in <span id="fs_8DDRN0HN1C00000000000000000000fs">2023</span>.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> </p> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In <span id="fs_DIVGY1QVI800000000000000000000fs">2023</span>, f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ollowing the acquisition of shares referred to in note II.B.<span id="fs_HA5O8UZESW00000000000000000000fs">2</span>).b) and considering the carrying value of the previously held interest, the price</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> paid for the acquisition </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the additional</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Usiminas</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shares and the fair value measurement of the Usiminas shares </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">conducted at the T/T Group</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> level)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the Company recorded a net loss of $25.5 million included in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Equity in earnings of non-consolidated companies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the Consolidated Income Statement.</span></p> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company reviews its participation in Usiminas whenever events or circumstances indicate that the asset’s carrying amount may not be recoverable. As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ZNM2ROJB3400000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Company concluded that the carrying amount did not exceed the recoverable value of the investment.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div> <div id="t_ft_IHLDD28B2800000000000000000000b"> <p style="margin: 0px; text-align: justify; line-height: 1.2; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; text-align: justify;">Summarized selected financial information of Usiminas, including the aggregated amounts of assets, liabilities, revenues and profit or loss is as follows:</span></p> </div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_1NKLMXLXU800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 272px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Usiminas </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_2P86H3F8VK00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_TBZW4AUH1C00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Non-current assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,431,865 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,623,996 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,053,444 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,234,742 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 6,485,309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 6,858,738 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Non-current liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,436,623 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,357,347 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 741,224 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 772,412 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,177,847 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,129,758 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,307,462 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,728,980 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Non-controlling interests </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 524,771 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 452,481 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Revenues </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,696,469 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,800,787 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Gross profit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 390,533 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 308,043 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net loss for the year attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (550,447 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (27,084 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other comprehensive income attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,605 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 31,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Total comprehensive (loss) / income attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (548,842 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 22pt; break-after: avoid; text-indent: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: normal;">c) Techgen</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Techgen is a Mexican company that operates a natural gas-fired combined cycle electric power plant in the Pesquería area of the State of Nuevo León, Mexico, with a power capacity of <span id="fs_L42UQ6BKU800000000000000000000fs" style="line-height: inherit;">900</span> megawatts. As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PBVJT0DSWG00000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Tenaris held 22% of Techgen’s share capital, and its affiliates, Ternium and Tecpetrol (both controlled by San Faustin), </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">beneficially owned</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 48% and 30% respectively.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LXW89N30R400000000000000000000fs" style="line-height: inherit;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the carrying value of Tenaris’s ownership stake in Techgen was approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">73.9</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">Techgen entered into certain transportation capacity agreements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> an agreement for the purchase of clean energy certificates. As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"><span id="fs_P3O49U12BK00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">, Tenaris’s exposure under these agreements amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">33.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> million</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">16.1</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;">million respectively.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: normal; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Techgen’s sponsors granted certain subordinated loans to Techgen. As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NDODC6E4ZK00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the aggregate outstanding principal amount under these subordinated loans was $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">312.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, of which $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">68.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million correspond to Tenaris’s contribution.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On February 13, 2019, Techgen entered into a $640 million syndicated loan agreement with several banks to refinance an existing loan, resulting in the release of certain corporate guarantees previously issued by Techgen’s shareholders to secure the replaced facility.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The existing syndicated loan agreement is “non-recourse” on the sponsors. Techgen’s obligations thereunder are guaranteed by a Mexican security trust (covering shares, assets, accounts and contract rights), account pledges and certain direct agreements –customary for th</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> type of transactions–. The commercial terms and conditions governing the purchase by the Company’s Mexican subsidiary, Tamsa, of 22% of the energy generated by Techgen remain substantially unchanged.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Under the loan agreement, Techgen is committed to maintain a debt service reserve account covering debt service becoming due during <span id="fs_R7G1A714IO00000000000000000000fs">two</span> consecutive quarters; such account is funded by stand-by letters of credit issued for the account of Techgen’s sponsors in proportion to their respective participations in Techgen. Accordingly, the Company applied for stand-by letters of credit covering 22% of the debt service coverage ratio, which</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2N29EO7Y4000000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">9.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span></p> <table cellpadding="0" cellspacing="0" style="height: 136px; border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_2ITC6MCIPC00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_17X70NJQJ400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 77%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,608,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 21,692 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (47,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity in earnings of non-consolidated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,038 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,548 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Dividends and distributions declared </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (62,022 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (71,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (Decrease) / increase in equity reserves and others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (153 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 45,357 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,561,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> 1543657000 1608804000 -21692000 47840000 58038000 8548000 62022000 71212000 -153000 45357000 1561212000 1543657000 62000000 73800000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 117px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="3" style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> % ownership at December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Book value at December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Company </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Country of incorporation </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_7VVWUDK5VK00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_XL3QUIO0GG00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_4WI5VYVYSG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_CI9YHKELWW00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 22px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 30%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">a) Ternium </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 25%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Luxembourg </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11.46% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11.46% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,375,115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 22px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,377,911 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 22px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">b) Usiminas </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Brazil </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3.96% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3.96% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 108,574 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 102,812 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> c) Techgen </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Mexico </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 22.00% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 22.00% </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 73,936 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 59,782 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">      Others </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,587 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,152 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,561,212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,543,657 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_6KPI28SUU800000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; height: 34px;"> <tbody> <tr style="height: 17px;"> <td style="width: 2.14556%; vertical-align: top; box-shadow: none; height: 17px;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 97.8544%; vertical-align: top; box-shadow: none; height: 17px;" valign="top"><span style="font-size: 9pt;"><span style="font-size: 9pt;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">At December 31, 202</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_773MFEC5A800000000000000000000fs">5</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and <span id="fs_13N0C68YWW00000000000000000000fs">202</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_SE35MKOWQ800000000000000000000fs">4</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, the voting rights were </span></span></span><span style="border-left: none; border-right: none;"><span style="border-right: none; border-left: none;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">11.70</span></span></span></span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;">%.</span></td> </tr> <tr style="height: 17px;"> <td style="vertical-align: top; box-shadow: none; height: 17px; width: 2.14556%;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="vertical-align: top; box-shadow: none; height: 17px; width: 97.8544%;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">At December 31,</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_K6USYB6RY800000000000000000000fs">20</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_UV7F1UKPLC00000000000000000000fs">2</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_W11TI9XGHC00000000000000000000fs">5</span></span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">and <span id="fs_4IZ9AC1GE800000000000000000000fs">202</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_B4KXFI1ILS00000000000000000000fs">4</span></span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, </span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the voting rights were 6.76</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">%</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> </tbody> </table> </div> 0.1146 0.1146 1375115000 1377911000 0.0396 0.0396 108574000 102812000 0.22 0.22 73936000 59782000 3587000 3152000 1561212000 1543657000 0.117 0.117 0.0676 0.0676 38.19 877300000 1375100000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 272px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit; font-family: 'Frutiger 45 Light';">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Ternium </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_PZDNA9D24G00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_D06XXGGSDS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Non-current assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13,818,723 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,050,457 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,796,368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,078,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 23,615,091 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 23,128,547 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Non-current liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,533,136 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,157,819 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,934,209 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,839,159 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 7,467,345 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 6,996,978 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 16,147,746 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 16,131,569 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Non-controlling interests </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,203,446 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,163,383 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Revenues </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 15,609,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,649,060 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Gross profit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,353,104 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,888,836 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net income / (loss) for the year attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 425,232 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (53,672 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other comprehensive income attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 80,913 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 211,817 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Total comprehensive income attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 506,145 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 158,145 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> </tbody> </table> 13818723000 12050457000 9796368000 11078090000 23615091000 23128547000 3533136000 3157819000 3934209000 3839159000 7467345000 6996978000 16147746000 16131569000 4203446000 4163383000 15609094000 17649060000 2353104000 2888836000 425232000 -53672000 80913000 211817000 506145000 158145000 5.96 1.08 5.95 1.08 52900000 108600000 25500000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 272px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Usiminas </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_2P86H3F8VK00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_TBZW4AUH1C00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Non-current assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,431,865 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,623,996 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,053,444 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,234,742 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 6,485,309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 6,858,738 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Non-current liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,436,623 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,357,347 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 741,224 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 772,412 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,177,847 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,129,758 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,307,462 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,728,980 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Non-controlling interests </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 524,771 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 452,481 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Revenues </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,696,469 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,800,787 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Gross profit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 390,533 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 308,043 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Net loss for the year attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (550,447 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (27,084 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other comprehensive income attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,605 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 31,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Total comprehensive (loss) / income attributable to shareholders' equity </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (548,842 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> </tbody> </table> 3431865000 3623996000 3053444000 3234742000 6485309000 6858738000 1436623000 1357347000 741224000 772412000 2177847000 2129758000 4307462000 4728980000 524771000 452481000 4696469000 4800787000 390533000 308043000 -550447000 -27084000 1605000 31564000 -548842000 4480000 0.22 0.48 0.30 73900000 33100000 16100000 312700000 68800000 640000000 0.22 0.22 9700000 <p style="line-height: 12pt; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"><span id="fs_SJM3XWBXXS00000000000000000000fs">15</span></span><span style="font: 7.0pt 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">Receivables</span> <span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">non</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">-</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">current</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">, net</span></p> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span></p> <div id="t_ft_IDVVQ58DQO00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 156px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 20px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 12pt; font-family: 'Frutiger 45 Light';">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_ASZCR9D29S00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_VL765HO18G00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Employee advances and loans </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 10,612 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 9,120 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"><span style="font-size: 10pt;">Tax credits</span> </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 80,414 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 66,636 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Receivables from related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,142 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 69,843 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Legal deposits </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 7,713 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 6,858 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Advances to suppliers </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 31,279 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 37,434 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 8,051 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,711 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 139,211 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 205,602 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> <p style="margin: 0pt;"><br/></p> <div id="t_ft_BNWYAL0ATC00000000000000000000b"> <table style="width: 100%; margin: 0px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; height: 10px; text-indent: 0px;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; vertical-align: top; box-shadow: none; height: 10px; padding: 0px; margin: 0px; text-indent: 0px;" valign="top"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;">^{<span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; vertical-align: super;">(*)</span>} </p> </td> <td style="width: 98%; vertical-align: top; box-shadow: none; height: 10px; padding: 0px; margin: 0px; text-indent: 0px;" valign="top"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"> As of December 31, 2025, and <span id="fs_PG6V2A02I800000000000000000000fs">2024</span>, included approximately $48.7 million and $54.2 million, respectively, related to ICMS (Tax on Sales and Services) from Brazilian subsidiaries.</span></p> </td> </tr> </tbody> </table> </div> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 156px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 20px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 12pt; font-family: 'Frutiger 45 Light';">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_ASZCR9D29S00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_VL765HO18G00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Employee advances and loans </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 10,612 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 9,120 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"><span style="font-size: 10pt;">Tax credits</span> </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 80,414 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 66,636 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Receivables from related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,142 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 69,843 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Legal deposits </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 7,713 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 6,858 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Advances to suppliers </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 31,279 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 37,434 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 8,051 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 15,711 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 139,211 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 205,602 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> <p style="margin: 0pt;"><br/></p> <div id="t_ft_BNWYAL0ATC00000000000000000000b"> <table style="width: 100%; margin: 0px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; height: 10px; text-indent: 0px;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; vertical-align: top; box-shadow: none; height: 10px; padding: 0px; margin: 0px; text-indent: 0px;" valign="top"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;">^{<span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; vertical-align: super;">(*)</span>} </p> </td> <td style="width: 98%; vertical-align: top; box-shadow: none; height: 10px; padding: 0px; margin: 0px; text-indent: 0px;" valign="top"> <p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"> As of December 31, 2025, and <span id="fs_PG6V2A02I800000000000000000000fs">2024</span>, included approximately $48.7 million and $54.2 million, respectively, related to ICMS (Tax on Sales and Services) from Brazilian subsidiaries.</span></p> </td> </tr> </tbody> </table> </div> 10612000 9120000 80414000 66636000 1142000 69843000 7713000 6858000 31279000 37434000 8051000 15711000 139211000 205602000 48700000 54200000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><a href="#TOC" id="BJKB101_201202691530810" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">16        </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Inventories</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">, net</span></a></div> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="t_ft_OAWXUPXT9S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 163px;border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_QP4NC1AH8G00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> <span id="fs_ISD6LN4YWW00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 77%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Finished goods </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,479,289 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,332,646 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Goods in process </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 875,413 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 993,294 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Raw materials </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 445,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 504,124 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Supplies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 696,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 712,059 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Goods in transit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 334,711 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 370,993 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,832,060 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,913,116 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for obsolescence, see note <span id="fs_2HTEWPV9F400000000000000000000fs">25</span> (i) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (230,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (203,174 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,602,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,709,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"></td> </tr> </tbody> </table> </div> <table cellpadding="0" cellspacing="0" style="height: 163px;border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_QP4NC1AH8G00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> <span id="fs_ISD6LN4YWW00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 77%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Finished goods </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,479,289 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,332,646 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Goods in process </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 875,413 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 993,294 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Raw materials </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 445,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 504,124 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Supplies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 696,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 712,059 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Goods in transit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 334,711 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 370,993 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,832,060 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,913,116 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for obsolescence, see note <span id="fs_2HTEWPV9F400000000000000000000fs">25</span> (i) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (230,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (203,174 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,602,058 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 3,709,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"></td> </tr> </tbody> </table> 1479289000 1332646000 875413000 993294000 445673000 504124000 696974000 712059000 334711000 370993000 3832060000 3913116000 230002000 203174000 3602058000 3709942000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><a href="#TOC" id="BA2_1912026163945986" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_1SQI4TEAI800000000000000000000fs">17        </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Receivables and prepayments</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">, net</span></a></div> <p style="line-height: 1.2; margin: 0pt;"> <br/></p> <div id="fs_IWHQ64B67400000000000000000000B"> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_KO24BQLCHC00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 191px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 22.1857%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_NSQVUXLI7K00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_EHJWZ33Y5S00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; background-color: #cceeff; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Prepaid expenses and other receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 44,258 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 53,318 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Government entities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,118 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,420 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Employee advances and loans </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,441 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,695 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.23254%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Advances to suppliers and other advances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41,906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 35,965 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Government tax refunds on exports </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,826 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,969 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.23254%; height: 17px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 10px;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Receivables from related parties </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 10px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 75,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 10px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,585 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; height: 10px;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 76.5818%; height: 10px;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Others </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 82,546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,756 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 272,602 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 182,708 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; height: 18px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> Allowance for other doubtful accounts, see note <span id="fs_9VBAVSF5Z400000000000000000000fs">25</span> (i) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 268,798 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 179,614 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <table style="width: 100%; margin-left: 0.1px; height: 20px; font-family: &quot;times new roman&quot;; font-size: 10pt; border-collapse: collapse;"> <tbody> <tr style="height: 10px;"> <td style="height: 10px; width: 2%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; box-shadow: none; vertical-align: top;" valign="top"><sup style="color: #000000;font-family: 'times new roman', times;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: normal;orphans: 2;text-align: justify;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">(*)</span></sup> </td> <td style="height: 10px; width: 98%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; box-shadow: none; vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 9pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">As of December 31, 2025, i</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">ncluded approximately $</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">68.8</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> million, related to a receivable from loans granted to Techgen, reclassified from non-current receivables. For more information, see </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">note </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_KSF4B1G3O000000000000000000000fs" style="line-height: inherit;">14</span></span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> (c)</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; box-shadow: none; vertical-align: top; width: 2%;" valign="top"><sup style="color: #000000;font-family: 'times new roman', times;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: normal;orphans: 2;text-align: justify;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">(**)</span></sup> </td> <td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; box-shadow: none; vertical-align: top; width: 98%; text-align: justify;" valign="top"><span style="font-size: 9pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">As of December 31, 2025, i</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">ncluded approximately $</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">27</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> million, related to a receivable </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">corresponding </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">to the </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">refunds </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">from the adjustment of the U.S. antidumping duty rate on</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> Tenaris’s imports from Argentina for the first review period. For more information, see note </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_9EYLHJK32O00000000000000000000fs" style="line-height: inherit;">27</span></span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> (ii).</span></span></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_KO24BQLCHC00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 191px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 22.1857%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_NSQVUXLI7K00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_EHJWZ33Y5S00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; background-color: #cceeff; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Prepaid expenses and other receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 44,258 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 53,318 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Government entities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,118 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,420 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Employee advances and loans </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,441 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,695 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.23254%; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Advances to suppliers and other advances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41,906 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 35,965 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Government tax refunds on exports </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,826 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,969 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.23254%; height: 17px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 10px;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Receivables from related parties </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 10px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 75,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 10px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,585 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; height: 10px;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 76.5818%; height: 10px;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Others </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 82,546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,756 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 272,602 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 182,708 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; height: 18px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> Allowance for other doubtful accounts, see note <span id="fs_9VBAVSF5Z400000000000000000000fs">25</span> (i) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 76.5818%; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 268,798 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.1068%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 179,614 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.23254%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <table style="width: 100%; margin-left: 0.1px; height: 20px; font-family: &quot;times new roman&quot;; font-size: 10pt; border-collapse: collapse;"> <tbody> <tr style="height: 10px;"> <td style="height: 10px; width: 2%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; box-shadow: none; vertical-align: top;" valign="top"><sup style="color: #000000;font-family: 'times new roman', times;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: normal;orphans: 2;text-align: justify;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">(*)</span></sup> </td> <td style="height: 10px; width: 98%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; box-shadow: none; vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 9pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">As of December 31, 2025, i</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">ncluded approximately $</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">68.8</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> million, related to a receivable from loans granted to Techgen, reclassified from non-current receivables. For more information, see </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">note </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_KSF4B1G3O000000000000000000000fs" style="line-height: inherit;">14</span></span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> (c)</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; box-shadow: none; vertical-align: top; width: 2%;" valign="top"><sup style="color: #000000;font-family: 'times new roman', times;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: normal;orphans: 2;text-align: justify;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">(**)</span></sup> </td> <td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; box-shadow: none; vertical-align: top; width: 98%; text-align: justify;" valign="top"><span style="font-size: 9pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">As of December 31, 2025, i</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">ncluded approximately $</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">27</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> million, related to a receivable </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">corresponding </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">to the </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">refunds </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">from the adjustment of the U.S. antidumping duty rate on</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> Tenaris’s imports from Argentina for the first review period. For more information, see note </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_9EYLHJK32O00000000000000000000fs" style="line-height: inherit;">27</span></span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> (ii).</span></span></td> </tr> </tbody> </table> 44258000 53318000 3118000 2420000 10441000 11695000 41906000 35965000 14826000 16969000 75507000 3585000 82546000 58756000 272602000 182708000 3804000 3094000 268798000 179614000 68800000 27000000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><a href="#TOC" id="BA3_1912026163818393" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_APK0XX522O00000000000000000000fs">18</span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Current tax assets</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> and liabilities</span></a></div> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div style="border-left: none; border-right: none;"> <div id="t_ft_88TU43NMWW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 100px;border-collapse: collapse;margin: 0px 0px 0px 0.1px;font-family: 'Frutiger 45 Light';font-size: 10pt;text-indent: 0px;width: 100%;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 15px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 77%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Current tax assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_TH4BCPIZWG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1X5HS4DT5S00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income tax assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 114,898 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 135,621 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> V.A.T. credits </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 248,882 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 195,745 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other prepaid taxes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 860 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,255 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 364,640 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 332,621 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <br/> <div id="t_ft_VUFZZTMFU800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 94px;border-collapse: collapse;margin: 0px 0px 0px 0.1px;font-family: 'Frutiger 45 Light';font-size: 10pt;text-indent: 0px;width: 100%;" width="100%"> <tbody> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; width: 77%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; text-align: center; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Year ended December 31,</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; width: 77%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Current tax liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 10%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_0XA3VQC83K00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 10%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_W47XYQJWTC00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income tax liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 271,791 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 277,712 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> V.A.T. liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 23,087 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,599 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other taxes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,708 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 71,981 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 386,586 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 366,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> </div> <table cellpadding="0" cellspacing="0" style="height: 100px;border-collapse: collapse;margin: 0px 0px 0px 0.1px;font-family: 'Frutiger 45 Light';font-size: 10pt;text-indent: 0px;width: 100%;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 15px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 77%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Current tax assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_TH4BCPIZWG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1X5HS4DT5S00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income tax assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 114,898 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 135,621 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> V.A.T. credits </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 248,882 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 195,745 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other prepaid taxes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 860 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,255 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 364,640 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 332,621 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> 114898000 135621000 248882000 195745000 860000 1255000 364640000 332621000 <table cellpadding="0" cellspacing="0" style="height: 94px;border-collapse: collapse;margin: 0px 0px 0px 0.1px;font-family: 'Frutiger 45 Light';font-size: 10pt;text-indent: 0px;width: 100%;" width="100%"> <tbody> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; width: 77%; height: 16px; vertical-align: bottom;" valign="bottom"><br/></td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; text-align: center; height: 16px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Year ended December 31,</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 16px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; width: 77%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Current tax liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 10%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_0XA3VQC83K00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 1%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 10%; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_W47XYQJWTC00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income tax liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 271,791 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 277,712 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> V.A.T. liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 23,087 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,599 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other taxes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,708 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 71,981 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 386,586 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 366,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> 271791000 277712000 23087000 16599000 91708000 71981000 386586000 366292000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_AGC5QMXRTS00000000000000000000fs">19</span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">         </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Trade receivables, net</span></p> <p style="margin: 0pt; line-height: 1.2;"> <br/></p> <div id="t_ft_3ZGRW4VKN400000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 121px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; width: 77%; vertical-align: bottom; height: 18px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 10%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_HFBQGN1CLC00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 10%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_XG5BO6BKXS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,937,512 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,923,620 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables from related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 42,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 32,012 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,980,427 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,955,632 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for doubtful accounts, see note <span id="fs_XJGAXOPZKG00000000000000000000fs">25</span> (i) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (59,587</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (48,125</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 18px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 18px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,920,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,907,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The following table</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> sets forth details </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the aging</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of trade receivables</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as of December 31, 2025 and <span id="fs_ZEOCEMHAK000000000000000000000fs">2024</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div class="selected" id="fs_M4NHXBGJKW00000000000000000000B"> <div id="t_ft_O5Y880QBR400000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 170px; border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td colspan="3" rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; width: 12%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Trade receivables </span></p> </td> <td colspan="3" rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; width: 12.0493%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; border-left-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Not due </span></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 22%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Past due </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 1.24896%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="3" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 12%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_CG4NDRSRMO00000000000000000000fs">1</span> - <span id="fs_4049JCJB1S00000000000000000000fs">180</span> days</span></p> </td> <td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 11.249%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> &gt; <span id="fs_63VJ6O0HR400000000000000000000fs">180</span> days</span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1.04932%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1.24896%; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 373,516 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 344,711 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.04932%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 28,620 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 185 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.24896%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Not guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,606,911 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,316,554 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.04932%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 207,080 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 83,277 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.24896%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Guaranteed and not guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,980,427 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,661,265 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.04932%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 235,700 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 83,462 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.24896%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Expected loss rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.02% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.01% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.04932%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.04% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.35% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.24896%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (531 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (147 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.04932%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (110 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (274 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.24896%;"><span style="font-size: 10pt;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Nominative allowance for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (59,056 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_3M8R2XA5DS00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.04932%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (259 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (58,797 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.24896%;"><span style="font-size: 10pt;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Net value </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,920,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,661,118 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.04932%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 235,331 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 24,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.24896%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_348UY6JB0000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 163px; border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td colspan="3" rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 27px; margin: 0px; text-indent: 0px; width: 11.99%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Trade receivables </span></p> </td> <td colspan="3" rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 27px; margin: 0px; text-indent: 0px; width: 11.99%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Not due </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 21.9817%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Past due </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 10px; width: 52.9559%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="3" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; width: 11.99%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_RDTMK4VRTC00000000000000000000fs">1</span> - <span id="fs_DTSFN482OG00000000000000000000fs">180</span> days</span></p> </td> <td colspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; width: 10.9908%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> &gt; <span id="fs_SLPLSSA6YO00000000000000000000fs">180</span> days</span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 288,388 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 254,777 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 33,341 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 270 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Not guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,667,244 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,305,338 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 298,988 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 62,918 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Guaranteed and not guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,955,632 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,560,115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 332,329 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 63,188 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Expected loss rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.03% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.01% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.09% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.33% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (525 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (147 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (323 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (55 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Nominative allowance for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (47,600 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_FIY8LOIE9C00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (303 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (47,297 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Net value </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,907,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,559,968 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 331,703 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">15,836</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"></td> </tr> </tbody> </table> </div> </div> <p style="margin: 0pt; line-height: 1.2;"><br/></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Trade receivables are mainly denominated in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">U.S. dollars.</span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 121px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; width: 77%; vertical-align: bottom; height: 18px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 10%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_HFBQGN1CLC00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 10%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_XG5BO6BKXS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,937,512 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,923,620 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables from related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 42,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 32,012 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,980,427 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,955,632 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for doubtful accounts, see note <span id="fs_XJGAXOPZKG00000000000000000000fs">25</span> (i) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (59,587</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (48,125</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 18px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 18px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,920,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,907,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> 1937512000 1923620000 42915000 32012000 1980427000 1955632000 59587000 48125000 1920840000 1907507000 <div id="t_ft_O5Y880QBR400000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 170px; border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td colspan="3" rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; width: 12%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Trade receivables </span></p> </td> <td colspan="3" rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; width: 12.0493%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-left-width: 1px; border-left-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; border-left-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Not due </span></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 22%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Past due </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 1.24896%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="3" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 12%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_CG4NDRSRMO00000000000000000000fs">1</span> - <span id="fs_4049JCJB1S00000000000000000000fs">180</span> days</span></p> </td> <td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 11.249%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> &gt; <span id="fs_63VJ6O0HR400000000000000000000fs">180</span> days</span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1.04932%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; width: 1.24896%; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 373,516 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 344,711 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.04932%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 28,620 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 185 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.24896%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Not guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,606,911 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,316,554 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.04932%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 207,080 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 83,277 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.24896%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Guaranteed and not guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,980,427 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,661,265 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.04932%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 235,700 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 83,462 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.24896%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Expected loss rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.02% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.01% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.04932%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.04% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.35% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.24896%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (531 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (147 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.04932%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (110 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (274 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.24896%;"><span style="font-size: 10pt;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Nominative allowance for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (59,056 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_3M8R2XA5DS00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.04932%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (259 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (58,797 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.24896%;"><span style="font-size: 10pt;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.7893%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Net value </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,920,840 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,661,118 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.04932%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 235,331 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 24,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.24896%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_348UY6JB0000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 163px; border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td colspan="3" rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 27px; margin: 0px; text-indent: 0px; width: 11.99%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Trade receivables </span></p> </td> <td colspan="3" rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 27px; margin: 0px; text-indent: 0px; width: 11.99%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Not due </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 21.9817%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Past due </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 10px; width: 52.9559%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="3" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; width: 11.99%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; border-left-width: 1px; border-left-style: solid; border-left-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_RDTMK4VRTC00000000000000000000fs">1</span> - <span id="fs_DTSFN482OG00000000000000000000fs">180</span> days</span></p> </td> <td colspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; width: 10.9908%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> &gt; <span id="fs_SLPLSSA6YO00000000000000000000fs">180</span> days</span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 288,388 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 254,777 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 33,341 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 270 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Not guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,667,244 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,305,338 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 298,988 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 62,918 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Guaranteed and not guaranteed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,955,632 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,560,115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 332,329 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 63,188 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Expected loss rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.03% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.01% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.09% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0.33% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Allowance for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (525 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (147 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (323 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (55 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Nominative allowance for doubtful accounts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (47,600 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_FIY8LOIE9C00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (303 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99167%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (47,297 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.999167%;"><span style="font-size: 10pt;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 52.9559%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Net value </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,907,507 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,559,968 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 331,703 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">15,836</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.999167%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"></td> </tr> </tbody> </table> </div> 373516000 344711000 28620000 185000 1606911000 1316554000 207080000 83277000 1980427000 1661265000 235700000 83462000 0.0002 0.0001 0.0004 0.0035 531000 147000 110000 274000 59056000 259000 58797000 1920840000 1661118000 235331000 24391000 288388000 254777000 33341000 270000 1667244000 1305338000 298988000 62918000 1955632000 1560115000 332329000 63188000 0.0003 0.0001 0.0009 0.0033 525000 147000 323000 55000 47600000 303000 47297000 1907507000 1559968000 331703000 15836000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><a href="#TOC" id="Ba4_1912026181148855" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_GVKD22PVG000000000000000000000fs">20</span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash and cash equivalents</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> and </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">o</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">ther investments</span></a></div> <div style="line-height: 1.2; margin: 0pt 0pt 0pt 21.3pt; text-indent: -21.3pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><br/></span></div> <div id="t_ft_8AIBL5B98W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;text-indent: 0px;height: 256px;" width="100%"> <tbody> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 77%; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 10%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_QBGB2ESUCW00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 1%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 1%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 10%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_PHN99PW4QO00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 1%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Cash and cash equivalents </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cash at banks </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 142,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 290,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Liquidity funds </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 258,919 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 355,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Short-term investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 171,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 29,311 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 572,647 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 675,256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other investments - current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_2UBPWUYZLC00000000000000000000fs">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 827,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 722,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,069,393 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fund investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 409,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 376,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,306,760 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,372,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other investments - non-current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 655,867 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_QTBNF9PR8G00000000000000000000fs">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 95,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 140,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 758,085 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,005,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 2025, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other Investments</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">include</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> financial assets </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">subject to lending agreement</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> with financial institutions</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for a total amount of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">153.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, of which $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">102.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million are classified as current and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">51.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million as non-current</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. Under applicable contractual terms, Tenaris retains substantially all the risks and rewards of ownership of the financial assets and has not received any collateral in connection to them. The fee received is recognized as a gain within financial results, as interest income.</span></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;text-indent: 0px;height: 256px;" width="100%"> <tbody> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 77%; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 10%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_QBGB2ESUCW00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 1%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 1%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 10%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_PHN99PW4QO00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; width: 1%; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Cash and cash equivalents </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Cash at banks </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 142,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 290,901 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Liquidity funds </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 258,919 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 355,044 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Short-term investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 171,252 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 29,311 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 572,647 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 675,256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other investments - current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_2UBPWUYZLC00000000000000000000fs">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 827,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 722,328 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,069,393 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,273,673 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fund investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 409,891 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 376,998 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,306,760 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 2,372,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other investments - non-current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bonds and other fixed income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 655,867 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 857,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed income (time-deposit, <span id="fs_QTBNF9PR8G00000000000000000000fs">zero</span> coupon bonds, commercial papers) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 95,090 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 140,292 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Others </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,128 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,049 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 758,085 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,005,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> </tbody> </table> 142476000 290901000 258919000 355044000 171252000 29311000 572647000 675256000 827476000 722328000 1069393000 1273673000 409891000 376998000 2306760000 2372999000 655867000 857959000 95090000 140292000 7128000 7049000 758085000 1005300000 153100000 102100000 51000000 <div style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><a href="#TOC" id="Ba6_1912026181929736" style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_5NNBMP97A800000000000000000000fs">21</span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Borrowings</span></a></div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <div id="t_ft_7BX68H3YZK00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 145px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 10px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 77%; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_Y2MO7GSQXC00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_WXQ8WTD73400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Non-current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bank borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bank borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 305,151 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 411,541 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bank overdrafts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 203 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,458 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,354 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 425,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total borrowings</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The maturity of borrowings is as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <div id="fs_YM6MH9KHN400000000000000000000B"> <div id="t_ft_R87CFHQK9S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px; height: 85px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_M210HDP2W000000000000000000000fs">1</span> year or less </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_KBMH6WB0DS00000000000000000000fs">1</span> - <span id="fs_SBZ8CDO1S000000000000000000000fs">2</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_UJ4YOSK1O000000000000000000000fs">2</span> – <span id="fs_MMS7EKYAOG00000000000000000000fs">3</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Over <span id="fs_WAR13C5Z6800000000000000000000fs">3</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 41%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 305,354 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_FA2QBRZ6XS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 92 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 276 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,354 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_UBKNTR1H4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 92 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 276 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest to be accrued </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,640 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 15 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,679 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 308,994 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 15 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 103 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 289 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 309,401 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"> <br/></p> <div id="t_ft_QO8ZK8GS4000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px; height: 85px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 40.9884%; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_WJ119RLSOG00000000000000000000fs">1</span> year or less </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_ED3UR281Q800000000000000000000fs">1</span> - <span id="fs_85E3L5B7C000000000000000000000fs">2</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_UL5X066HF400000000000000000000fs">2</span> – <span id="fs_FVP8GR129C00000000000000000000fs">3</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.31234%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Over <span id="fs_5ZFXKZ1OWG00000000000000000000fs">3</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.45349%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 425,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JSDHJABKJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.31234%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_56ONWO68RK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.45349%; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 425,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_V8TI2PDLRK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.31234%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_Z62JV32ES000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.45349%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.31234%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.45349%; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest to be accrued </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,270 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 672 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2ZW7K198OW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.31234%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_T4QUBM5W9C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.45349%; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 432,269 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 12,071 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_PXEHL1VLLS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.31234%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_J9ROI8AOJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">444,340</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.45349%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"></td> </tr> </tbody> </table> </div> </div> <p style="line-height: 1.2; margin: 0pt;"><br/></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Significant borrowings include:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <div id="t_ft_LFL5NHJHS000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0pt; font-family: &quot;times new roman&quot;; font-size: 10pt; height: 90px; width: 100%;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> In millions of U.S. dollars </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Disbursement date </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Borrower </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Type </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Final maturity </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Outstanding </span></p> </td> </tr> <tr style="background-color: #cceeff; height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 38%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_5QIR7YDSXC00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 32%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tubos de Acero de Mexico S.A. </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bilateral </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_XTHW4AU8XS00000000000000000000fs">2026</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 150 </span></p> </td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_GQULHDULQO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tubos de Acero de Mexico S.A. </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bilateral </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_L247S9JSPS00000000000000000000fs">2026</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 50 </span></p> </td> </tr> <tr style="background-color: #cceeff; height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_918T712DCW00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris Tubocaribe Ltda. </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bilateral </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_FQPQBWLTWW00000000000000000000fs">2026</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 30 </span></p> </td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> </tr> </tbody> </table> </div> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NRHSDX9BPS00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_JQS4U0B94W00000000000000000000fs">2024</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Tenaris was in compliance with all of its covenants, or obtained the necessary wa</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">vers from the applicable financial institution if the covenants were not met.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The weighted average annual interest rates before tax shown below were calculated using the rates set for each instrument in its corresponding currency as of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7R49HMVFFK00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_US4K2A1P7K00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KHZDM12WY800000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_AP6D6OLEPS00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_OGV1YYWGPC00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7T02FFU5VK00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">considering hedge accounting</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> where applicable</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div id="t_ft_YAQN348INK00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 99.8354%; height: 28px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_6R5NY2KRI800000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1MIA8OD2WW00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 77%; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Total borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5.44% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6.52% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Breakdown of long-term</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and short-term</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> borrowings by currency and rate is as follows:</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Non-current borrowings</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <div id="t_ft_JUUETR4BTS00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 100px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Currency </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Interest rates </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_78U90D207K00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_UY32S3OAQ800000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 57%; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> SAR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 20%; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ULXL1F6YY800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,903 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> SAR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HD5DZIK03400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,496 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> EUR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_86D5B8XWIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total non-current borrowings </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> 368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Current</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> borrowings</span></h3> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <div id="t_ft_Z1JYM4CM4G00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 178px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Currency </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Interest rates </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_CFA91AV94W00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_ENCG2M1HY800000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; width: 57%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> USD </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; width: 20%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 230,622 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 260,866 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> USD </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,057 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,173 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> EUR </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,278 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ARS </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 19 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,551 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> SAR </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_N7C4F1JJW000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,018 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> SAR </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 71,501 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 130,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Others </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XLUTZUC4XS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Others </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 26 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_P2MKOXHHHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total current borrowings </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,354 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 425,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Borrowing</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> evolution</span></h3> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <div id="t_ft_ZO3IJTCV4G00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px; height: 122px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 16px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_NSW2O2QRG000000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_C4VA7M5QB400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 77%; background-color: #cceeff; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 583,437 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (632</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,805</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Proceeds and repayments, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (117,114</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (128,761</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interests accrued less payments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 325 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,707</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Overdrafts variation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (14,255</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,766</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">437,398</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> </tr> </tbody> </table> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 145px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 10px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 77%; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_Y2MO7GSQXC00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_WXQ8WTD73400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Non-current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bank borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Current </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bank borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 305,151 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 411,541 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bank overdrafts </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 203 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,458 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,354 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 425,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; background-color: #cceeff; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total borrowings</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> </tbody> </table> 368000 11399000 368000 11399000 305151000 411541000 203000 14458000 305354000 425999000 305722000 437398000 <div id="t_ft_R87CFHQK9S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px; height: 85px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_M210HDP2W000000000000000000000fs">1</span> year or less </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_KBMH6WB0DS00000000000000000000fs">1</span> - <span id="fs_SBZ8CDO1S000000000000000000000fs">2</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_UJ4YOSK1O000000000000000000000fs">2</span> – <span id="fs_MMS7EKYAOG00000000000000000000fs">3</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Over <span id="fs_WAR13C5Z6800000000000000000000fs">3</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 10px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 41%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 305,354 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_FA2QBRZ6XS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 92 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 276 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,354 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_UBKNTR1H4W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 92 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 276 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest to be accrued </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,640 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 15 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,679 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 308,994 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 15 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 103 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 289 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 309,401 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt;"> <br/></p> <div id="t_ft_QO8ZK8GS4000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px; height: 85px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; width: 40.9884%; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_WJ119RLSOG00000000000000000000fs">1</span> year or less </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_ED3UR281Q800000000000000000000fs">1</span> - <span id="fs_85E3L5B7C000000000000000000000fs">2</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_UL5X066HF400000000000000000000fs">2</span> – <span id="fs_FVP8GR129C00000000000000000000fs">3</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.31234%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Over <span id="fs_5ZFXKZ1OWG00000000000000000000fs">3</span> years </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.01744%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0291%; border-bottom-color: #000000 !important; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.45349%; border-bottom-color: #000000 !important; height: 10px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 425,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JSDHJABKJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.31234%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_56ONWO68RK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.45349%; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 425,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_V8TI2PDLRK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.31234%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_Z62JV32ES000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.45349%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.31234%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0291%; height: 15px;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.45349%; height: 15px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest to be accrued </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,270 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 672 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2ZW7K198OW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.31234%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_T4QUBM5W9C00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.01744%; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10.0291%; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,942 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.45349%; height: 15px;"><br/></td> </tr> <tr style="height: 15px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; width: 40.9884%; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 432,269 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 12,071 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_PXEHL1VLLS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.31234%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span id="fs_J9ROI8AOJK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.01744%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0291%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">444,340</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.45349%; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"></td> </tr> </tbody> </table> </div> 305354000 92000 276000 305722000 305354000 92000 276000 305722000 3640000 15000 11000 13000 3679000 308994000 15000 103000 289000 309401000 425999000 11399000 437398000 425999000 11399000 437398000 6270000 672000 6942000 432269000 12071000 444340000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0pt; font-family: &quot;times new roman&quot;; font-size: 10pt; height: 90px; width: 100%;" width="100%"> <tbody> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> In millions of U.S. dollars </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Disbursement date </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Borrower </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Type </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Final maturity </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 15px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Outstanding </span></p> </td> </tr> <tr style="background-color: #cceeff; height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 38%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_5QIR7YDSXC00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 32%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tubos de Acero de Mexico S.A. </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bilateral </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_XTHW4AU8XS00000000000000000000fs">2026</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 150 </span></p> </td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_GQULHDULQO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tubos de Acero de Mexico S.A. </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bilateral </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_L247S9JSPS00000000000000000000fs">2026</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 50 </span></p> </td> </tr> <tr style="background-color: #cceeff; height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_918T712DCW00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris Tubocaribe Ltda. </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Bilateral </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> <span id="fs_FQPQBWLTWW00000000000000000000fs">2026</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 15px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 30 </span></p> </td> </tr> <tr style="height: 15px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> </tr> </tbody> </table> 150000000 50000000 30000000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 99.8354%; height: 28px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_6R5NY2KRI800000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1MIA8OD2WW00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 77%; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Total borrowings </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5.44% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6.52% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> </tr> </tbody> </table> 0.0544 0.0652 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 100px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; height: 10px; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Currency </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Interest rates </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_78U90D207K00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_UY32S3OAQ800000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 57%; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> SAR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 20%; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ULXL1F6YY800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,903 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> SAR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_HD5DZIK03400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,496 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> EUR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_86D5B8XWIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total non-current borrowings </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> 368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold; line-height: inherit;"> 11,399 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; height: 18px;"><br/></td> </tr> </tbody> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; height: 178px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Currency </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Interest rates </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_CFA91AV94W00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_ENCG2M1HY800000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; width: 57%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> USD </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; width: 20%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 230,622 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 260,866 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> USD </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,057 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,173 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> EUR </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,278 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ARS </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 19 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,551 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> SAR </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_N7C4F1JJW000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,018 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> SAR </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 71,501 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 130,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Others </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Variable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XLUTZUC4XS00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 15px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Others </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 15px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fixed </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 26 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_P2MKOXHHHC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 15px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total current borrowings </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,354 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 425,999 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> </tbody> </table> 9903000 1496000 368000 368000 11399000 230622000 260866000 3057000 9173000 41000 14278000 19000 8551000 3018000 71501000 130113000 88000 26000 305354000 425999000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px; height: 122px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 16px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_NSW2O2QRG000000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_C4VA7M5QB400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 77%; background-color: #cceeff; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 437,398 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 583,437 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (632</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,805</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Proceeds and repayments, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (117,114</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (128,761</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interests accrued less payments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 325 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,707</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 16px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Overdrafts variation </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (14,255</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,766</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 16px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 305,722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">437,398</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; height: 16px;"><br/></td> </tr> </tbody> </table> 437398000 583437000 -632000 -6805000 -117114000 -128761000 325000 -3707000 -14255000 -6766000 305722000 437398000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;"><span id="fs_FWIAUUG8HS00000000000000000000fs">22</span></span><span style="line-height: inherit;"><span>        </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">Deferred </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">tax</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;"> assets and liabilities</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred income taxes are calculated in full on temporary differences under the liability method using the tax rate of each country.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">evolution of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> deferred tax assets and liabilities</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">during the year </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">is</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="fs_NWKU77Z4HC00000000000000000000B"> <h3 style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Deferred tax assets</span></h3> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_2H3F60L4LS00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 125px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 34px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 34px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Provisions and allowances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tax losses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 41%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 55,925 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 153,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 714,798 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 160,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,085,442 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 868 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 122 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,290 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 13px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Increase due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_W4KNVMR6B400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AZB13C4VIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,014 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WFYCLDNOWW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,014 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7BP9L08DOW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RHQ78QBZR400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 153 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,237 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,390 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement (charge) / credit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,987 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (56,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,375 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (33,138 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 63,545 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 166,770 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 662,055 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 166,706 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,059,076 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_I79JUBYT5S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 123px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 28px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 28px; vertical-align: bottom; width: 41.0319%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Provisions and allowances </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 1.48368%;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;border-top-color: #000000 !important;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tax losses </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 41.0319%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 31,511 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.982801%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 199,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.982801%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.982801%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 634,894 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 185,997 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,051,421 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0319%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (22 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (277 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (76 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (829 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,204 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 41.0319%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2WA0LRK0J400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.48368%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (414 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,821 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,495 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0319%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_D9DJG5AAQO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2NBZPB5WDC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,006 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 885 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,121 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0319%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement credit / (charge) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 24,436 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (44,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 82,400 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (27,070 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 34,851 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0319%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 55,925 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 153,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 714,798 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 160,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,085,442 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_UPFOTMQIR400000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 20px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; height: 10px; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span><br/></td> <td style="width: 98%; height: 10px; box-shadow: none; text-align: justify; vertical-align: top;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span id="fs_BQSFSW3GR400000000000000000000fs">2025</span>, related to the acquisition of a scrap processing </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">business</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> in Beaver Falls, Pennsylvania</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_H9MVNOSN1S00000000000000000000fs">34</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; width: 2%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="height: 10px; width: 98%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the year <span id="fs_EAXQ8ZBT0W00000000000000000000fs">2024</span>, related to </span>Mattr’s<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> pipe coating business unit acquisition.</span></span></td> </tr> </tbody> </table> </div> <div> <div id="t_ft_UORP6DKJW000000000000000000000b"> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Deferred tax liabilities</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_DUQIOMCN0W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 132px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 20px; vertical-align: bottom; width: 52.9894%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Fixed assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets and other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 568,638 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 75,230 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 114,217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 758,085 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 646 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XBQMB3QAM800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 413 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,059 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Increase due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <div style="border-left: none; border-right: none;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">3,014</span></p> </div> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6Q8LK5CJKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WRUYRKOFQO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,014 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Decrease due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;"><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_O12NSGMBC000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RGEML9VSAO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_G6D0XROVWW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WPA36MSV2800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement credit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (35,792 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (29,331 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (29,615 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (94,738 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 536,498 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 45,899 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 84,759 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 667,156 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_MDG6PZR87K00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 122px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px 0px 0px 0.1px; text-indent: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 20px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Fixed assets </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets and other </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 53%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 618,874 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 114,335 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 160,202 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 893,411 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (194 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (72 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (174 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (440 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations</span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(***)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,223 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LGSAND0P2800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,033 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EC0LE4J5WW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KZCBJ1LLVK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (904 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (904 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement credit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (51,265 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (39,033 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (46,940 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (137,238 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 568,638 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 75,230 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 114,217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 758,085 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_O7B5H4Z28W00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 30px;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">^(*) </span><br/></td> <td style="width: 98%; box-shadow: none; text-align: justify; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span id="fs_NELGV507ZK00000000000000000000fs">2025</span>, related to the acquisition of a scrap processing </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">business</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> in Beaver Falls, Pennsylvania</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_Z69J4PLFO000000000000000000000fs">34</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span id="fs_F9X9CNHVB400000000000000000000fs">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_OR5K07UB9S00000000000000000000fs">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, related </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">to the deconsolidation of Amaja Tubular Services Limited.</span></span></td> </tr> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(***)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the year <span id="fs_SG2VZ7WN9C00000000000000000000fs">2024</span>, related to </span>Mattr’s<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> pipe coating business unit acquisition.</span></span></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets related to tax losses of Tenaris subsidiaries are recognized to the extent it is probable that future </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">taxable profits will be available, against which such losses can be utilized. The utilization of such tax losses may also be restricted by the nature of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">profit</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, expiration dates and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">/or potential </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">limitations on the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ir</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> yearly consumption. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In determining </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the recoverable</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> amount of deferred taxes, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">considered</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> existing evidence, both positive and negative, including the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">historical taxable profits </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">projections of future taxable </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">profits</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">prepared</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">m</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">anagement to assess the probability that the deferred tax assets will be realized. Management applies significant judgment in assessing the likelihood that future taxable profits will be available.</span></p> <div> <div id="t_ft_KXX8XJP1F400000000000000000000b"> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets related to tax losses as of the end of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KNM9VSGSM800000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JALLZXPZUO00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BM2U97DJQ800000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VNJAVAN3CG00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> include $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">620.0</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">623.8</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">respectively, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">recognized in its Luxembourg subsidiary mainly due to impairment charges over certain undertakings in the past years. Under the Luxembourg tax law, tax losses generated before <span id="fs_XAIE4PSK0000000000000000000000fs">2017</span> can be carried forward indefinitely and are not</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> subject to any yearly consumption limitation. Losses incurred as from 2017 may be carried forward for a maximum of 17 years.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris has concluded as of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_JQZ7AXPKCW00000000000000000000fs">2025</span>,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and <span id="fs_V2WPL0P97K00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VQ1HV1NNPC00000000000000000000fs">4</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">that it is probable that sufficient future taxable profits will be generated by business carried out by its Luxembourg subsidiary</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> which</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, since <span id="fs_HB8669O65C00000000000000000000fs">2024</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has expanded its activities including sales, distribution, logistics and marketing of steel products and other related services</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, against which the above-mentioned tax losses could be utilized prior to their expiration.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred tax assets related to tax losses</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as of the end of <span id="fs_SKOJ3J6AB400000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KVL22A6T1S00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_6HP1ANAK7400000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_4X72EPI9OW00000000000000000000fs">4</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">also in</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">clude $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">31.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">79.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million respectively, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">from</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> U</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> subsidiaries mainly </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">related to the acquisition of IPSCO</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in <span id="fs_K16XEOHOW000000000000000000000fs">2020</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tenaris has concluded that these deferred tax assets will be recoverable based on t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he business plans and budgets.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">99%</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the recognized tax losses have an expiration date in more than <span id="fs_REM00VZZY800000000000000000000fs">5</span> years or do not expire.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_T57L0PF1QO00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the unrecognized deferred tax assets originating in tax losses or tax credits amounted to</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">2.7</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">illion.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">98%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">unrecognized deferred tax assets have an expiration date </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in more than <span id="fs_D4QRTCB6VK00000000000000000000fs">5</span> years or do</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">not expire.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The estimated recovery analysis of deferred tax assets and settlement of deferred tax liabilities, which takes into consideration </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">m</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">anagement assumptions and estimates, is as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"> <br/></p> <div id="t_ft_GM3WXPU3GG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 61px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_36BIG3E1TS00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_2OADFGO60G00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; width: 77%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax assets to be recovered after <span id="fs_0PR4TUAVTC00000000000000000000fs">12</span> months </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 707,001 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 755,743 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax liabilities to be settled after <span id="fs_KPU0D0OKWW00000000000000000000fs">12</span> months </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 599,064 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 696,693 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Deferred income tax assets and liabilities are offset when (<span id="fs_6L1CAOWIPS00000000000000000000fs">1</span>) there is a legally enforceable right to set</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">off current tax assets against current tax liabilities and (<span id="fs_02XJAKO88W00000000000000000000fs">2</span>)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> when</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the deferred income taxes relate to the same fiscal authority</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. The following amounts, determined after appropriate set</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">off, are shown in the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">onsolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">S</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">tatement of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">inancial </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">P</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">osition</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="fs_Q262DTV3CW00000000000000000000B"> <div id="t_ft_P4TLZ99KU800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 78px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_U9H8HGHISW00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_QKQ0A7JAPS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 77%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 834,168 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 831,298 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 442,248 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 503,941 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 391,920 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 327,357 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The movement i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n the net deferred income tax </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">asset / </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liability</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> account is as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_LHPATWSCCW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 156px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_BY5B6ALO4W00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_T0CAGGZ76O00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 77%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 327,357 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 158,010 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (764 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 22px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 22px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 22px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CQX9NXC2MO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 22px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,761 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 22px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 22px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 22px;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 22px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 22px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RF6ZMX5LUO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,646 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement credit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,600 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 172,089 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 391,920 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 327,357 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_1DIL2C25KW00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; height: 20px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">^(*)</span></td> <td style="height: 10px; width: 98%; vertical-align: bottom; box-shadow: none;" valign="bottom"><span style="font-size: 9pt;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the year <span id="fs_FJDFGUV8YO00000000000000000000fs">2024</span>, related to Mattr’s pipe coating business unit acquisitions.</span></span></td> </tr> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="height: 10px; vertical-align: bottom; box-shadow: none;" valign="bottom"><span style="font-size: 9pt;"><span id="fn_e25a1716-7bf8-4bb2-87b2-76dee79d81ae"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the year <span id="fs_KJP7VKUEYO00000000000000000000fs">2025</span>, related to the deconsolidation of Amaja Tubular Services Limited.</span></span></span></td> </tr> </tbody> </table> </div> </div> <h3 style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 12pt; margin: 0pt 0pt 0pt 36pt; break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Deferred tax assets</span></h3> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_2H3F60L4LS00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 125px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 34px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 34px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Provisions and allowances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tax losses </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 34px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 41%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 55,925 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 153,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 714,798 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 160,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,085,442 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 868 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 122 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,290 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,368 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 13px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Increase due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_W4KNVMR6B400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_AZB13C4VIO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,014 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WFYCLDNOWW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 13px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,014 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 13px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7BP9L08DOW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RHQ78QBZR400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 153 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,237 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,390 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement (charge) / credit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,987 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (56,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,375 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (33,138 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 63,545 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 166,770 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 662,055 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 166,706 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,059,076 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_I79JUBYT5S00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 123px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 28px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 28px; vertical-align: bottom; width: 41.0319%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Provisions and allowances </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 1.48368%;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;border-top-color: #000000 !important;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Tax losses </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 28px;vertical-align: bottom;width: 9.99181%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;vertical-align: bottom;height: 28px;width: 0.982801%;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 41.0319%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 31,511 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.982801%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 199,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.982801%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.982801%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 634,894 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 185,997 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.99181%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,051,421 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0319%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (22 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (277 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (76 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (829 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,204 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 41.0319%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2WA0LRK0J400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.48368%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (414 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,821 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,495 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 10px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0319%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_D9DJG5AAQO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2NBZPB5WDC00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,006 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 885 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,121 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0319%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement credit / (charge) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 24,436 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (44,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 82,400 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (27,070 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 34,851 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 41.0319%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 55,925 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.48368%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 153,915 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 714,798 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 160,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,085,442 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_UPFOTMQIR400000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 20px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; height: 10px; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span><br/></td> <td style="width: 98%; height: 10px; box-shadow: none; text-align: justify; vertical-align: top;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span id="fs_BQSFSW3GR400000000000000000000fs">2025</span>, related to the acquisition of a scrap processing </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">business</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> in Beaver Falls, Pennsylvania</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_H9MVNOSN1S00000000000000000000fs">34</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; width: 2%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="height: 10px; width: 98%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the year <span id="fs_EAXQ8ZBT0W00000000000000000000fs">2024</span>, related to </span>Mattr’s<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> pipe coating business unit acquisition.</span></span></td> </tr> </tbody> </table> </div> <div> <div id="t_ft_UORP6DKJW000000000000000000000b"> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Deferred tax liabilities</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_DUQIOMCN0W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 132px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 20px; vertical-align: bottom; width: 52.9894%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Fixed assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets and other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 20px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.99181%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.982801%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 568,638 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 75,230 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 114,217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 758,085 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 646 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_XBQMB3QAM800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 413 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,059 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Increase due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <div style="border-left: none; border-right: none;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">3,014</span></p> </div> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6Q8LK5CJKW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WRUYRKOFQO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,014 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Decrease due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;"><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_O12NSGMBC000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RGEML9VSAO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_G6D0XROVWW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WPA36MSV2800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement credit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (35,792 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (29,331 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (29,615 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (94,738 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 536,498 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 45,899 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 84,759 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 667,156 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_MDG6PZR87K00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 122px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px 0px 0px 0.1px; text-indent: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 20px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Fixed assets </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Intangible assets and other </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 20px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 53%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 618,874 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 114,335 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 160,202 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 893,411 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (194 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (72 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (174 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (440 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations</span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(***)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,223 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_LGSAND0P2800000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,033 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,256 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EC0LE4J5WW00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_KZCBJ1LLVK00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (904 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (904 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement credit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (51,265 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (39,033 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (46,940 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (137,238 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 568,638 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 75,230 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 114,217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 758,085 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_O7B5H4Z28W00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 30px;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">^(*) </span><br/></td> <td style="width: 98%; box-shadow: none; text-align: justify; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span id="fs_NELGV507ZK00000000000000000000fs">2025</span>, related to the acquisition of a scrap processing </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">business</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> in Beaver Falls, Pennsylvania</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">. For more information see note </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_Z69J4PLFO000000000000000000000fs">34</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span id="fs_F9X9CNHVB400000000000000000000fs">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_OR5K07UB9S00000000000000000000fs">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, related </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">to the deconsolidation of Amaja Tubular Services Limited.</span></span></td> </tr> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(***)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the year <span id="fs_SG2VZ7WN9C00000000000000000000fs">2024</span>, related to </span>Mattr’s<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> pipe coating business unit acquisition.</span></span></td> </tr> </tbody> </table> </div> 55925000 153915000 714798000 160804000 1085442000 88000 868000 122000 1290000 2368000 3014000 3014000 153000 1237000 1390000 7532000 11987000 -56032000 3375000 -33138000 63545000 166770000 662055000 166706000 1059076000 31511000 199019000 634894000 185997000 1051421000 -22000 -277000 -76000 -829000 -1204000 88000 -414000 1821000 1495000 -2006000 885000 -1121000 24436000 -44915000 82400000 -27070000 34851000 55925000 153915000 714798000 160804000 1085442000 568638000 75230000 114217000 758085000 646000 413000 1059000 3014000 3014000 -8000 -8000 -256000 -256000 -35792000 -29331000 -29615000 -94738000 536498000 45899000 84759000 667156000 618874000 114335000 160202000 893411000 -194000 -72000 -174000 -440000 1223000 2033000 3256000 -904000 -904000 -51265000 -39033000 -46940000 -137238000 568638000 75230000 114217000 758085000 620000000 623800000 P17Y 31400000 79400000 0.99 2700000000 0.98 <table cellpadding="0" cellspacing="0" style="height: 61px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_36BIG3E1TS00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_2OADFGO60G00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; width: 77%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax assets to be recovered after <span id="fs_0PR4TUAVTC00000000000000000000fs">12</span> months </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 707,001 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 755,743 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; vertical-align: bottom; background-color: #cceeff; height: 17px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax liabilities to be settled after <span id="fs_KPU0D0OKWW00000000000000000000fs">12</span> months </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 599,064 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 696,693 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td> </tr> </tbody> </table> 707001000 755743000 599064000 696693000 <div id="t_ft_P4TLZ99KU800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 78px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_U9H8HGHISW00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_QKQ0A7JAPS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 77%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 834,168 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 831,298 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Deferred tax liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 442,248 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 503,941 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 391,920 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 327,357 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The movement i</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n the net deferred income tax </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">asset / </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">liability</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> account is as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_LHPATWSCCW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 156px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_BY5B6ALO4W00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_T0CAGGZ76O00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 77%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 327,357 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 158,010 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,309 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (764 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 22px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 22px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 22px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_CQX9NXC2MO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 22px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,761 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 22px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 22px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 22px;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 22px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 22px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RF6ZMX5LUO00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 22px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Charged to other comprehensive income </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,646 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (217 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income statement credit </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,600 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 172,089 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 391,920 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 327,357 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_1DIL2C25KW00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; height: 20px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">^(*)</span></td> <td style="height: 10px; width: 98%; vertical-align: bottom; box-shadow: none;" valign="bottom"><span style="font-size: 9pt;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the year <span id="fs_FJDFGUV8YO00000000000000000000fs">2024</span>, related to Mattr’s pipe coating business unit acquisitions.</span></span></td> </tr> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="height: 10px; vertical-align: bottom; box-shadow: none;" valign="bottom"><span style="font-size: 9pt;"><span id="fn_e25a1716-7bf8-4bb2-87b2-76dee79d81ae"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For the year <span id="fs_KJP7VKUEYO00000000000000000000fs">2025</span>, related to the deconsolidation of Amaja Tubular Services Limited.</span></span></span></td> </tr> </tbody> </table> </div> 834168000 831298000 442248000 503941000 -391920000 -327357000 -327357000 -158010000 -1309000 764000 1761000 -8000 -1646000 217000 -61600000 -172089000 -391920000 -327357000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;"><span id="fs_AAQP1M8ALS00000000000000000000fs">23</span></span><span style="line-height: inherit;"><span>        </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">Other liabilities</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 0pt 36pt; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(i)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">          </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Other liabilities – Non</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">current</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_94ENAO1EJK00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 98px;" width="100%"> <tbody> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_98YBNFEC9C00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_IM7EZQLWHS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Post-employment benefits </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 141,440 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 131,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other long-term benefits </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 103,705 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 101,260 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other liabilities with related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,383 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,084 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Miscellaneous </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,179 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66,843 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 310,707 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 301,751 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Post-employment benefits</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_FNCYWEEM6800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 70px;" width="100%"> <tbody> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_8QHEEQRK9C00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_2PI57BZ3S000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Unfunded </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 140,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 129,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Funded </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 908 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 141,440 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 131,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">At December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_EO3JGKE5W000000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span id="fs_HBGX73U5AO00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_POSXPI4ZK000000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the weighted average duration of liabilities related to post-employment benefits was </span><span style="border-left: none; border-right: none;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">7</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">years</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> respectively.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_KKG3JN1LLC00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> •</span></td> <td style="width: 98%; box-shadow: none;"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Unfunded </span></p> </td> </tr> </tbody> </table> </div> <div style="border-left: none; border-right: none;"> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="fs_RADD68LK9S00000000000000000000B"> <div id="t_ft_CFMQ6VA1JK00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 156px;" width="100%"> <tbody> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 21.9492%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_60VE7600F400000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_Y3R0C083K000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Values at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 129,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 112,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current service cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,430 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,206 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,409 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,692 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Curtailments and settlements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (960 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (131 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="background-color: #cceeff; height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 76.9861%; height: 16px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Remeasurements </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 16px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,129 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 16px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,506 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 16px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,650 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,865 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Benefits paid from the plan </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (7,732 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,345 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,126 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,437 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 140,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 129,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_EXGYCOF35S00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 43px;"> <tbody> <tr style="height: 15px;"> <td style="width: 2%; box-shadow: none; height: 15px;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; height: 15px; text-align: justify;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_Q3MANRY2SW00000000000000000000fs">20</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_W80ZCYMP7K00000000000000000000fs">2</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_XQA3SLEDZK00000000000000000000fs">5</span></span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.3</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million is attributable to demographic assumption</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">4.8</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million to financ</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ial assumptions.</span></span></td> </tr> <tr style="height: 14px;"> <td style="width: 2%; box-shadow: none; height: 14px;"><br/></td> <td style="width: 98%; box-shadow: none; height: 14px; text-align: justify;"><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_B5M5YH9T7K00000000000000000000fs">202</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_1VBDMMRCG000000000000000000000fs">4</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> a </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">1.6</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million is attributable to demographic assumptions and a </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">5.9</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million to financial assumptions.</span></td> </tr> </tbody> </table> </div> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The actuarial assumptions</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for the most relevant plans</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> were as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_WQSMTYJWO000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 68px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 76.8668%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 21.9619%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02489%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 76.8668%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95608%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_JF7E3SHI2O00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02489%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02489%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95608%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_EIG918LK8G00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02489%;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.8668%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Discount rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 9.95608%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4% - 7% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02489%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02489%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 9.95608%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3% - 8% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02489%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 76.8668%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Rate of compensation increase </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.95608%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2% - 6% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02489%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02489%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.95608%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2% - 6% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02489%;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As o</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">f December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BN841R2RWG00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_1D2VRC1RPS00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, an increase / (decrease) of 1% in the discount rate assumption </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the main plans </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">would have generated a (decrease) / increase on the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">defined benefit obligation of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">6.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">7.3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million respectively, and an increase / (decrease) of 1% in the rate of compensation assumption </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the main plans </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">would have generated an increase / (decrease) impact on the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">defined benefit obligation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">4.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">4.5</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million respectivel</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">y. The above sensitivity analyse</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> based on a change in discount rate and rate of compensation while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_FV9UD7IH1C00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> •</span></td> <td style="width: 98%; box-shadow: none;"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Funded </span></p> </td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">The amounts recognized in the statement of financial position</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> for the current annual period and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;"> previous </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">annual period</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; line-height: inherit;">are as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="fs_DHJWR34AO000000000000000000000B"> <div id="t_ft_SOV5J3CYWW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 70px;" width="100%"> <tbody> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_WYOLJ846Z400000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_FVY3HOIJCG00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Present value of funded obligations </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,652 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,698 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fair value of plan assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (18,524 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (102,653 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Asset <span style="font-size: 8pt;">^(*)</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (3,872 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (10,955 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><br/></p> <div id="t_ft_N8PMBX67QO00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 9pt; line-height: inherit;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">In <span id="fs_VL4DP3UZLC00000000000000000000fs">20</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_3Y8H9BLCQO00000000000000000000fs">2</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_ETSIXM332800000000000000000000fs">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_WN5DY0MB9S00000000000000000000fs">20</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_RXVB8QO7ZK00000000000000000000fs">2</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_YSAQQIKDXS00000000000000000000fs">4</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">4.8</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">million </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">and $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">13.5</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">corresponding to </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">plans</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">with surplus balance</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s that</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> w</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ere</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">reclassified</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">to other receivables-non current</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> respectively</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, consequently the net post-employment</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> benefits funded exposed as liabilities amounted to $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.9</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million and $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">2.5</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million respectively.</span></span></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The movement in the present value of funded obligations is as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="fs_30I42JEKWG00000000000000000000B"> <div id="t_ft_CDU3MRJ61C00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 114px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_L2JABFTE5C00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_8F9ZEG0SJ400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; width: 77%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,698 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 123,234 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,885 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (5,627 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current service cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 182 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 176 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,874 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,424 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Remeasurements </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (182 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Benefits paid </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,198 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Other</span> <span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (78,830 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (23,027 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 14,652 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 91,698 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 10px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div style="border-right: none; border-left: none;"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_6FHJ3DG7C000000000000000000000fs">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_Q0UVRQXJSG00000000000000000000fs">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.7</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">million is attributable to demographic assumptions and a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.6</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">million to financial assumptions.</span></span></td> </tr> <tr> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;"></span></td> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> the year</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> <span id="fs_G4ZGNJ7A3K00000000000000000000fs">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_3YKOR1YMN400000000000000000000fs">4</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.1</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million is attributable to demographic assumptions and a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.1</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million to financial assumptions.</span></span></td> </tr> <tr> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_P1B38I9WIO00000000000000000000fs">2025</span>, include</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> mainly</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> pension plan terminations in the United States and Canada.</span></span></td> </tr> <tr> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;"></span></td> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_O44ZHOPDO000000000000000000000fs">2024</span>, include</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> mainly</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> pension plan terminations in Canada.</span></span></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The movement in the fair value of plan assets is as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="fs_JP8A8J9MTC00000000000000000000B"> <div id="t_ft_0O7QDC3O7400000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 163px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; width: 21.9492%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; width: 1.2285%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_JT54P3LOE800000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_DBYMT6DNVK00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 9.99181%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (102,653 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 0.982801%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 0.982801%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 9.99181%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (134,052 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.2285%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,070 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,047 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Return on plan assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,406 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,010 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Remeasurements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,255 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (302 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Contributions paid to the plan </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,809 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,269 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Benefits paid from the plan </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,198 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Other </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88,961 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 23,633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (18,524 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (102,653 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_5QJZWUGSG000000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 36px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 19px;"> <td style="height: 19px; width: 2%; vertical-align: top; box-shadow: none;" valign="top">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</td> <td style="height: 19px; width: 98%; vertical-align: top; box-shadow: none; text-align: justify;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_FBEF2Z0I4G00000000000000000000fs">2025</span>, include</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> mainly</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> pension plan terminations in the United States and Canada</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">,</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">including cash received from surplus assets in Canada.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;"></span></td> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_UB7V8D30I800000000000000000000fs">2024</span>, include</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> mainly</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> pension plan terminations in Canada.</span></span></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The major categories of plan assets as a percentage of total plan assets are as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div id="fs_YQXTR08A8000000000000000000000B"> <div id="t_ft_Q5LVTJ3R6800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 78px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1PFJB6OWC000000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_W0OGD82JB400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 77%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Debt instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 60% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Others </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 34% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_6EO7FVZHAO00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the years <span id="fs_3K36NFIHDC00000000000000000000fs">2025</span> and <span id="fs_WTVQ8Z44E800000000000000000000fs">2024</span>, includes assets held by insurance compan</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ies.</span></span></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">There are no unusual, entity-specific, or plan-specific risks in terms of the plan assets of funded pension plans.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"> <br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The actuarial assumptions for the most relevant plans were as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_UO4ZFU820W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 61px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_63Y7709SQO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_LVYEVQVLBK00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 77%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Discount rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4% - 6% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5% - 6% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Rate of compensation increase </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3% - 4% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3% - 3% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The expected return on plan assets is determined by considering the expected returns available on the assets underlying the current investment policy. Expected </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">return</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">plan assets is determined</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> based on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">long-term, prospective rates of return as of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the end of the reporting period. </span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_A4464XFMZK00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_6OJ8NMY05S00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, an increase / (decrease) of 1% in the discount rate assumption </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the main plans </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">would have generated a (decrease) / increase on the defined benefit obligation of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">2.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million respectively, and an increase / (decrease) of <span id="fs_JW13MJ25DC00000000000000000000fs">1</span>% in the compensation rate assumption </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the main plans </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">would have generated an increase / (decrease) on the defined benefit obligation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million respectively</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Th</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e above sensitivity analyse</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> based on a change in discount rate and rate of compensation while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> expected employer </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">contributions </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">for the year <span id="fs_DAFBNOCBTS00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WYJW0YSBNK00000000000000000000fs">6</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are not material</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> </p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The methods and types of assumptions used in p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reparing the sensitivity analyse</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s did not change compared to the previous period.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 0pt 36pt; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(ii)<span style="color: #000000; font-family: 'Times New Roman'; font-size: 9.33333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">           </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Other liabilities </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">–</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">urrent</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_7V0YI7EF0W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px 0px 0px 0.1px; text-indent: 0px; width: 100%; height: 97px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 18px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_CB5BC6M6GW00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_LBOWBD0HS000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 77%; background-color: #cceeff; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Payroll and social security payable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 271,363 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 270,016 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Shares to be settled under buyback program </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Miscellaneous </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 46,837 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 72,495 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 377,088 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 585,775 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 98px;" width="100%"> <tbody> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_98YBNFEC9C00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_IM7EZQLWHS00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Post-employment benefits </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 141,440 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 131,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other long-term benefits </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 103,705 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 101,260 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other liabilities with related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,383 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,084 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Miscellaneous </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,179 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66,843 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 310,707 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 301,751 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> </tbody> </table> 141440000 131564000 103705000 101260000 4383000 2084000 61179000 66843000 310707000 301751000 <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 70px;" width="100%"> <tbody> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_8QHEEQRK9C00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_2PI57BZ3S000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Unfunded </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 140,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 129,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Funded </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 908 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 141,440 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 131,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> </tbody> </table> <div id="t_ft_CFMQ6VA1JK00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 156px;" width="100%"> <tbody> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 21.9492%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_60VE7600F400000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_Y3R0C083K000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Values at the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 129,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 112,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current service cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,430 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,206 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 10,409 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,692 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Curtailments and settlements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (960 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (131 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="background-color: #cceeff; height: 16px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 76.9861%; height: 16px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Remeasurements </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 16px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,129 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 16px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 16px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,506 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 16px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,650 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,865 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Benefits paid from the plan </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (7,732 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,345 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,126 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.99181%; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,437 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 0.982801%; height: 14px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; width: 76.9861%; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 140,532 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 129,032 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_EXGYCOF35S00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 43px;"> <tbody> <tr style="height: 15px;"> <td style="width: 2%; box-shadow: none; height: 15px;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; height: 15px; text-align: justify;"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_Q3MANRY2SW00000000000000000000fs">20</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_W80ZCYMP7K00000000000000000000fs">2</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_XQA3SLEDZK00000000000000000000fs">5</span></span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.3</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million is attributable to demographic assumption</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">4.8</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million to financ</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ial assumptions.</span></span></td> </tr> <tr style="height: 14px;"> <td style="width: 2%; box-shadow: none; height: 14px;"><br/></td> <td style="width: 98%; box-shadow: none; height: 14px; text-align: justify;"><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_B5M5YH9T7K00000000000000000000fs">202</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_1VBDMMRCG000000000000000000000fs">4</span></span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> a </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">1.6</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million is attributable to demographic assumptions and a </span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">5.9</span><span style="color: #000000; font-size: 12px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million to financial assumptions.</span></td> </tr> </tbody> </table> </div> <div id="t_ft_SOV5J3CYWW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 70px;" width="100%"> <tbody> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_WYOLJ846Z400000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_FVY3HOIJCG00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 77%; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Present value of funded obligations </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,652 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,698 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 14px;"><br/></td> </tr> <tr style="height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Fair value of plan assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (18,524 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (102,653 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="background-color: #cceeff; height: 14px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; background-color: #cceeff; height: 14px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Asset <span style="font-size: 8pt;">^(*)</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (3,872 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (10,955 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; break-after: avoid; break-inside: avoid; text-align: justify;"><br/></p> <div id="t_ft_N8PMBX67QO00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 9pt; line-height: inherit;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">In <span id="fs_VL4DP3UZLC00000000000000000000fs">20</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_3Y8H9BLCQO00000000000000000000fs">2</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_ETSIXM332800000000000000000000fs">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_WN5DY0MB9S00000000000000000000fs">20</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_RXVB8QO7ZK00000000000000000000fs">2</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_YSAQQIKDXS00000000000000000000fs">4</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">4.8</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">million </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">and $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">13.5</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">corresponding to </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">plans</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">with surplus balance</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s that</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> w</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ere</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">reclassified</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">to other receivables-non current</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> respectively</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">, consequently the net post-employment</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> benefits funded exposed as liabilities amounted to $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.9</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million and $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">2.5</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million respectively.</span></span></td> </tr> </tbody> </table> </div> <div id="t_ft_CDU3MRJ61C00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 114px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_L2JABFTE5C00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_8F9ZEG0SJ400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 17px;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; width: 77%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 91,698 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 123,234 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,885 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (5,627 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Current service cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 182 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 176 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest cost </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,874 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,424 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Remeasurements </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 41 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (182 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Benefits paid </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,198 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Other</span> <span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (78,830 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (23,027 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 14,652 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 10px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 91,698 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; height: 10px;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div style="border-right: none; border-left: none;"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">the year </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_6FHJ3DG7C000000000000000000000fs">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_Q0UVRQXJSG00000000000000000000fs">5</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.7</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">million is attributable to demographic assumptions and a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.6</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">million to financial assumptions.</span></span></td> </tr> <tr> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;"></span></td> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> the year</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> <span id="fs_G4ZGNJ7A3K00000000000000000000fs">202</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_3YKOR1YMN400000000000000000000fs">4</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.1</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million is attributable to demographic assumptions and a </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">loss</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> of $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">0.1</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million to financial assumptions.</span></span></td> </tr> <tr> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</span>}</span></td> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_P1B38I9WIO00000000000000000000fs">2025</span>, include</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> mainly</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> pension plan terminations in the United States and Canada.</span></span></td> </tr> <tr> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;"></span></td> <td style="vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_O44ZHOPDO000000000000000000000fs">2024</span>, include</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> mainly</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> pension plan terminations in Canada.</span></span></td> </tr> </tbody> </table> </div> 140532000 129032000 908000 2532000 141440000 131564000 P7Y P7Y 129032000 112532000 7430000 7206000 10409000 14692000 960000 131000 -5129000 -7506000 -1650000 -6865000 7732000 8345000 -1126000 2437000 140532000 129032000 -300000 -4800000 -1600000 -5900000 <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0px; width: 100%; height: 68px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 76.8668%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 21.9619%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02489%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 76.8668%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95608%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_JF7E3SHI2O00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02489%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02489%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 9.95608%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_EIG918LK8G00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.02489%;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; width: 76.8668%; background-color: #cceeff; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Discount rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 9.95608%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4% - 7% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02489%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02489%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 9.95608%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3% - 8% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; width: 1.02489%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; width: 76.8668%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Rate of compensation increase </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.95608%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2% - 6% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02489%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02489%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 9.95608%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2% - 6% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.02489%;"><br/></td> </tr> </tbody> </table> <table cellpadding="0" cellspacing="0" style="height: 61px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_63Y7709SQO00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_LVYEVQVLBK00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 77%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Discount rate </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4% - 6% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5% - 6% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Rate of compensation increase </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3% - 4% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3% - 3% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> </tbody> </table> 0.04 0.07 0.03 0.08 0.02 0.06 0.02 0.06 0.01 -6500000 7300000 0.01 4700000 -4500000 14652000 91698000 18524000 102653000 3872000 10955000 4800000 13500000 900000 2500000 91698000 123234000 3885000 -5627000 182000 176000 3874000 5424000 -41000 182000 6198000 8300000 -78830000 -23027000 14652000 91698000 700000 600000 100000 100000 <div id="t_ft_0O7QDC3O7400000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 163px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; width: 21.9492%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; width: 1.2285%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_JT54P3LOE800000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_DBYMT6DNVK00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 9.99181%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (102,653 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 0.982801%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 0.982801%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 9.99181%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (134,052 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.2285%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,070 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 7,047 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Return on plan assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (4,406 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,010 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Remeasurements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,255 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (302 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Contributions paid to the plan </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,809 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,269 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Benefits paid from the plan </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,198 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Other </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 88,961 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 23,633 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 76.8223%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (18,524 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.982801%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.99181%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (102,653 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.2285%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_5QJZWUGSG000000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; height: 36px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 19px;"> <td style="height: 19px; width: 2%; vertical-align: top; box-shadow: none;" valign="top">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</td> <td style="height: 19px; width: 98%; vertical-align: top; box-shadow: none; text-align: justify;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_FBEF2Z0I4G00000000000000000000fs">2025</span>, include</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> mainly</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> pension plan terminations in the United States and Canada</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">,</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">including cash received from surplus assets in Canada.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;"></span></td> <td style="height: 17px; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span id="fs_UB7V8D30I800000000000000000000fs">2024</span>, include</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">s</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> mainly</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> pension plan terminations in Canada.</span></span></td> </tr> </tbody> </table> </div> <div id="t_ft_Q5LVTJ3R6800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 78px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_1PFJB6OWC000000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_W0OGD82JB400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 77%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Equity instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 0% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Debt instruments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 66% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 60% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Others </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 34% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_6EO7FVZHAO00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the years <span id="fs_3K36NFIHDC00000000000000000000fs">2025</span> and <span id="fs_WTVQ8Z44E800000000000000000000fs">2024</span>, includes assets held by insurance compan</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ies.</span></span></td> </tr> </tbody> </table> </div> 102653000 134052000 -4070000 7047000 4406000 6010000 -1255000 302000 3809000 1269000 6198000 8300000 -88961000 -23633000 18524000 102653000 0 0.03 0.66 0.60 0.34 0.37 0.04 0.06 0.05 0.06 0.03 0.04 0.03 0.03 0.01 -1900000 2400000 1100000 -1000000 <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px 0px 0px 0.1px; text-indent: 0px; width: 100%; height: 97px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; box-shadow: none; height: 18px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_CB5BC6M6GW00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px;text-align: center;padding-left: 0px;padding-right: 0px;text-indent: 0px;font-family: 'Frutiger 45 Light';"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_LBOWBD0HS000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 77%; background-color: #cceeff; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Payroll and social security payable </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 271,363 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 10%; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 270,016 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Shares to be settled under buyback program </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 58,888 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 243,264 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="background-color: #cceeff; height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; background-color: #cceeff; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Miscellaneous </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 46,837 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 72,495 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;"><br/></td> </tr> <tr style="height: 18px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 18px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 377,088 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 585,775 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 18px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> 271363000 270016000 58888000 243264000 46837000 72495000 377088000 585775000 <p style="line-height: 12pt; margin: 0pt 0pt 10pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"><span id="fs_CV0HM3YZWG00000000000000000000fs">24</span></span><span style="font: 7.0pt 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">Non-current provisions</span> <br/></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">Liabilities</span></h3> <p style="line-height: 10pt; margin: 0pt;"><br/></p> <div id="t_ft_N96LIHY6K000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 139px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 21.875%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 1.42045%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_GVDAEEJXDS00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_5RTYB2PMBK00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 1.42045%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; width: 76.8466%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> At the beginning of the year</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.94318%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 82,106 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.994318%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.994318%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.94318%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 101,453 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.42045%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 4,216 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (11,718 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.42045%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span id="fs_O9NIUVGV8G00000000000000000000FM">-</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: &quot;Frutiger 45 Light&quot;;"><span style="font-family: &quot;Frutiger 45 Light&quot;; font-size: 10pt; margin: 0px; text-align: right; padding-left: 0px; text-indent: 0px;"> (<span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">900 </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.42045%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 76.8466%; font-family: 'Frutiger 45 Light';" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (Reversal) / additional allowance </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (21,380 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 10,077 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.42045%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,549 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,839 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.42045%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Used and other movements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (13,975 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (6,967 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.42045%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 48,418 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 82,106 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 1.42045%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 11pt; margin: 0pt;"><br/></p> <p style="line-height: 10pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;">Non-current allowances and provisions related to liabilities include lawsuits and other legal proceedings, including employee, tax and environmental-related claims.</span></p> <div id="t_ft_SOBHSY08IO00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 10px;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; height: 10px; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; height: 10px; vertical-align: top;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">For the year <span id="fs_715E5HUZTS00000000000000000000fs">2024</span>, r</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">elated to </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">Mattr’s pipe coating business unit acquisition</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light';">.</span></span></td> </tr> </tbody> </table> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 139px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 21.875%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 1.42045%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_GVDAEEJXDS00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_5RTYB2PMBK00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; vertical-align: bottom; width: 1.42045%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; width: 76.8466%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> At the beginning of the year</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.94318%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 82,106 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.994318%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.994318%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 9.94318%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 101,453 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; width: 1.42045%; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 4,216 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (11,718 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.42045%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';">Changes due to business combinations </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span id="fs_O9NIUVGV8G00000000000000000000FM">-</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: &quot;Frutiger 45 Light&quot;;"><span style="font-family: &quot;Frutiger 45 Light&quot;; font-size: 10pt; margin: 0px; text-align: right; padding-left: 0px; text-indent: 0px;"> (<span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">900 </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.42045%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 76.8466%; font-family: 'Frutiger 45 Light';" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (Reversal) / additional allowance </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (21,380 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 10,077 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.42045%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,549 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (9,839 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.42045%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Used and other movements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (13,975 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (6,967 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1.42045%;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 76.8466%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> At the end of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 48,418 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 0.994318%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 9.94318%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 82,106 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; background-color: #cceeff; vertical-align: bottom; width: 1.42045%;" valign="bottom"><br/></td> </tr> </tbody> </table> 82106000 101453000 4216000 -11718000 -900000 -21380000 10077000 -2549000 -9839000 13975000 6967000 48418000 82106000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">25        </span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">Current </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">allowances and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">provisions</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(i)         </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Deducted from assets</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div style="border-left: none; border-right: none;"> <div id="fs_ZLNXHOF20W00000000000000000000B"> <div style="border-left: none; border-right: none;"> <div id="t_ft_JP90AILO8W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 105px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px 0px 0px 0.1px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for doubtful accounts - Trade receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for other doubtful accounts - Other receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for inventory obsolescence </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (48,125 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (203,174 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit; font-family: 'Frutiger 45 Light';"> (93 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit; font-family: 'Frutiger 45 Light';"> (80 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit; font-family: 'Frutiger 45 Light';"> (1,775 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; background-color: #cceeff; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Decrease due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QWCJ5WX0NK00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 34 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additional allowances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (14,180 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (631 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (53,700 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Used and other movements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,810 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 28,613 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (59,587 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold; line-height: inherit;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><span style="font-weight: bold; line-height: inherit;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (230,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold; line-height: inherit;">)</span></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_TQ8CBPHK1S00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt; line-height: inherit;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">(*)</span>}</span></td> <td style="width: 98%; vertical-align: top; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">For the year </span><span style="line-height: inherit;"><span id="fs_C5OIYP18M800000000000000000000fs">2025</span></span><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">, related to the deconsolidation of Amaja Tubular Services Limited.</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div> </div> <div id="t_ft_3M3ESFIDC000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; text-indent: 0px; width: 100%; height: 105px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 10px;vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for doubtful accounts - Trade receivables </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for other doubtful accounts - Other receivables </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for inventory obsolescence </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (49,046 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,439 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (209,110 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 194 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 324 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 897 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations</span> <span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,151 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_O3PRS12UJK00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,676 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (Additional) / reversal allowances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,095 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (41,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Used and other movements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 783 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 567 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 49,955 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (48,125 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (3,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (203,174 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_OC75I868A800000000000000000000b"> <table style="width: 100%; margin: 0px; height: 10px; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px; padding: 0px;" valign="top"><span style="font-size: 8pt; line-height: inherit;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">(*</span>}^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">*</span>}^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top; height: 10px; padding: 0px;" valign="top"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> For the year <span id="fs_6NC8WZNMJK00000000000000000000fs">2024</span>, related to Mattr’s pipe coating business unit acquisition. </span></span> <p style="margin: 0pt;"><br/></p> </td> </tr> </tbody> </table> </div> </div> <br/></div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(ii)<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">         </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Liabilities</span></p> <div style="border-left: none; border-right: none;"><br/> <div id="fs_OWXJDNNBGG00000000000000000000B"> <div style="border-left: none; border-right: none;"> <div id="t_ft_8STTK4Q66800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; height: 108px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Sales risks </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Other claims and contingencies </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; vertical-align: super; line-height: inherit; font-size: 8pt;">(*)</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 59%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,371 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 102,973 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 119,344 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 694 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,801 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,495 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Decrease due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TRXGV0FXQO00000000000000000000fs" style="line-height: inherit;">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (79 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (79 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additional provisions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 42,710 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,104 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 56,814 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VLKVA13P8W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,549 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,549 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Used </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,487 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (17,971 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">)</td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 44,291 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 128,861 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 173,152 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_9A3V3QLUSG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 99.9596%; height: 116px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="background-color: #ffffff; padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;height: 10px;margin: 0px;text-indent: 0px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Sales risks </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;height: 10px;margin: 0px;text-indent: 0px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;margin: 0px;text-indent: 0px;height: 10px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;height: 10px;margin: 0px;text-indent: 0px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Other claims and contingencies </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; vertical-align: super; line-height: inherit; font-size: 8pt;">(*)</span></span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;margin: 0px;text-indent: 0px;height: 10px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;margin: 0px;text-indent: 0px;height: 10px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;height: 10px;margin: 0px;text-indent: 0px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px; width: 59%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 19,940 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 35,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,301 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (18,978 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (20,279 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations</span> <span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(***)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2IV0SLMA3400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additional provisions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 21,296 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 106,198 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 127,494 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 18px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 18px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PI9EXAXO0000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,839 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,839 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Used </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (23,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (10,827 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (34,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 16,371 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 102,973 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 119,344 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_2BAQJPC06800000000000000000000b"> <table style="width: 100%; margin: 0px; height: 40px; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; height: 10px; vertical-align: top; padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px;" valign="top"><span style="font-size: 8pt; line-height: inherit;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">(*)</span>}</span></td> <td style="width: 98%; height: 10px; vertical-align: top; padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Other claims and contingencies mainly include lawsuits and other legal proceedings, including employee, tax and environmental-related claims.</span></td> </tr> <tr style="height: 10px;"> <td colspan="2" style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 100%; text-align: justify;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">As of December 31, </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="line-height: inherit;"><span id="fs_G51TNXLXF400000000000000000000fs">2025</span></span> and</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> <span style="line-height: inherit;"><span id="fs_ZGCYTAPDOW00000000000000000000fs">2024</span></span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">,</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">i</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ncludes </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="line-height: inherit;">114.9</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="line-height: inherit;">89.4</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> respectively,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> related the ongoing litigation related to the acquisition of participation in Usiminas. For more information see note <span style="line-height: inherit;"><span id="fs_P8B1TXCOU800000000000000000000fs">27</span></span> (i).</span></span></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 2%;" valign="top"><span style="font-size: 8pt; line-height: inherit;"><sup style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">(**)</span></sup></span></td> <td style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 98%;" valign="top"><span id="fn_76fc63a2-e5e5-47ee-8b22-ea2331ea40ec"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">For the year </span></span><span style="line-height: inherit; text-align: justify; text-indent: 0px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span id="fs_X7K1RGGA6O00000000000000000000fs">2025</span></span></span><span><span style="font-size: 9pt; text-align: justify; text-indent: 0px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>, related to the </span>deconsolidation<span> of </span>Amaja</span><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> Tubular Services Limited</span>.</span></span></span></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 2%;" valign="top"><span style="font-size: 8pt; line-height: inherit;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">(***)</span>}</span></td> <td style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 98%;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span style="line-height: inherit;"><span id="fs_SAMK42TAZK00000000000000000000fs">2024</span></span>, related to </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Mattr’s pipe coating business unit acquisition</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> </tbody> </table> </div> </div> </div> <div style="border-left: none; border-right: none;"> <div id="t_ft_JP90AILO8W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 105px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px 0px 0px 0.1px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for doubtful accounts - Trade receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for other doubtful accounts - Other receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for inventory obsolescence </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (48,125 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (203,174 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit; font-family: 'Frutiger 45 Light';"> (93 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit; font-family: 'Frutiger 45 Light';"> (80 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';"><span style="font-size: 10pt; line-height: inherit; font-family: 'Frutiger 45 Light';"> (1,775 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; background-color: #cceeff; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Decrease due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QWCJ5WX0NK00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 34 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additional allowances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (14,180 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (631 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.48368%;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (53,700 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1.03858%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Used and other movements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,810 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48368%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 28,613 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.03858%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 58.9021%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (59,587 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold; line-height: inherit;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,804 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.48368%;"><span style="font-weight: bold; line-height: inherit;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 12.0178%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (230,002 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.03858%;"><span style="font-weight: bold; line-height: inherit;">)</span></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div id="t_ft_TQ8CBPHK1S00000000000000000000b"> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 2%; vertical-align: top; box-shadow: none;" valign="top"><span style="font-size: 8pt; line-height: inherit;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">(*)</span>}</span></td> <td style="width: 98%; vertical-align: top; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">For the year </span><span style="line-height: inherit;"><span id="fs_C5OIYP18M800000000000000000000fs">2025</span></span><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">, related to the deconsolidation of Amaja Tubular Services Limited.</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <div> </div> <div id="t_ft_3M3ESFIDC000000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; text-indent: 0px; width: 100%; height: 105px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 10px;vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for doubtful accounts - Trade receivables </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for other doubtful accounts - Other receivables </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Allowance for inventory obsolescence </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;margin: 0px;text-indent: 0px;height: 10px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (49,046 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,439 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (209,110 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; width: 1%; background-color: #cceeff;" valign="bottom">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 194 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 324 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 897 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations</span> <span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,151 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_O3PRS12UJK00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (3,676 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; background-color: #cceeff;" valign="bottom">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (Additional) / reversal allowances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,095 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (546 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (41,240 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Used and other movements </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 783 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 567 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 49,955 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (48,125 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (3,094 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (203,174 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_OC75I868A800000000000000000000b"> <table style="width: 100%; margin: 0px; height: 10px; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; box-shadow: none; vertical-align: top; height: 10px; padding: 0px;" valign="top"><span style="font-size: 8pt; line-height: inherit;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">(*</span>}^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">*</span>}^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">)</span>}</span></td> <td style="width: 98%; box-shadow: none; vertical-align: top; height: 10px; padding: 0px;" valign="top"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> For the year <span id="fs_6NC8WZNMJK00000000000000000000fs">2024</span>, related to Mattr’s pipe coating business unit acquisition. </span></span> <p style="margin: 0pt;"><br/></p> </td> </tr> </tbody> </table> </div> 48125000 3094000 203174000 93000 80000 1775000 1000 34000 14180000 631000 53700000 2810000 1000 28613000 59587000 3804000 230002000 49046000 3439000 209110000 -194000 -324000 -897000 1151000 3676000 -1095000 546000 41240000 783000 567000 49955000 48125000 3094000 203174000 <div style="border-left: none; border-right: none;"> <div id="t_ft_8STTK4Q66800000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; height: 108px; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Sales risks </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Other claims and contingencies </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; vertical-align: super; line-height: inherit; font-size: 8pt;">(*)</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 59%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,371 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 102,973 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 119,344 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 694 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 11,801 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 12,495 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Decrease due to deconsolidation of subsidiaries </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(**)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_TRXGV0FXQO00000000000000000000fs" style="line-height: inherit;">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (79 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (79 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additional provisions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 42,710 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14,104 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 56,814 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_VLKVA13P8W00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,549 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2,549 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Used </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (15,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (2,487 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (17,971 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">)</td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2025 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 44,291 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 128,861 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 173,152 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_9A3V3QLUSG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin: 0px; width: 99.9596%; height: 116px; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="background-color: #ffffff; padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, 2024 </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;height: 10px;margin: 0px;text-indent: 0px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Sales risks </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;height: 10px;margin: 0px;text-indent: 0px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;margin: 0px;text-indent: 0px;height: 10px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;height: 10px;margin: 0px;text-indent: 0px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Other claims and contingencies </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; vertical-align: super; line-height: inherit; font-size: 8pt;">(*)</span></span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;margin: 0px;text-indent: 0px;height: 10px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;margin: 0px;text-indent: 0px;height: 10px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;vertical-align: bottom;height: 10px;margin: 0px;text-indent: 0px;border-top-width: 1px;border-top-style: solid;border-top-color: #000000 !important;border-bottom-width: 1px;border-bottom-style: solid;border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="background-color: #ffffff; padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px; width: 59%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> At the beginning of the year </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 19,940 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; width: 1%; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,019 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; width: 12%; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 35,959 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; width: 1%; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Translation differences </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,301 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (18,978 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (20,279 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 10px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes due to business combinations</span> <span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">(***)</span>}</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_2IV0SLMA3400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 722 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Additional provisions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 21,296 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 106,198 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 127,494 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 18px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 18px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Reclassifications </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_PI9EXAXO0000000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,839 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 9,839 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Used </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (23,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (10,827 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (34,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; vertical-align: bottom; height: 17px; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> At December 31, 2024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 16,371 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 102,973 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 119,344 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt;"><br/></p> <div id="t_ft_2BAQJPC06800000000000000000000b"> <table style="width: 100%; margin: 0px; height: 40px; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;"> <tbody> <tr style="height: 10px;"> <td style="width: 2%; height: 10px; vertical-align: top; padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px;" valign="top"><span style="font-size: 8pt; line-height: inherit;">^{<span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">(*)</span>}</span></td> <td style="width: 98%; height: 10px; vertical-align: top; padding: 0px; box-shadow: none; margin: 0px; text-indent: 0px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">Other claims and contingencies mainly include lawsuits and other legal proceedings, including employee, tax and environmental-related claims.</span></td> </tr> <tr style="height: 10px;"> <td colspan="2" style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 100%; text-align: justify;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">As of December 31, </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="line-height: inherit;"><span id="fs_G51TNXLXF400000000000000000000fs">2025</span></span> and</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> <span style="line-height: inherit;"><span id="fs_ZGCYTAPDOW00000000000000000000fs">2024</span></span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">,</span> <span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">i</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">ncludes </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="line-height: inherit;">114.9</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> and </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">$</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"><span style="line-height: inherit;">89.4</span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> million</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> respectively,</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> related the ongoing litigation related to the acquisition of participation in Usiminas. For more information see note <span style="line-height: inherit;"><span id="fs_P8B1TXCOU800000000000000000000fs">27</span></span> (i).</span></span></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 2%;" valign="top"><span style="font-size: 8pt; line-height: inherit;"><sup style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-family: 'Frutiger 45 Light'; vertical-align: super; line-height: inherit;">(**)</span></sup></span></td> <td style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 98%;" valign="top"><span id="fn_76fc63a2-e5e5-47ee-8b22-ea2331ea40ec"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;">For the year </span></span><span style="line-height: inherit; text-align: justify; text-indent: 0px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span id="fs_X7K1RGGA6O00000000000000000000fs">2025</span></span></span><span><span style="font-size: 9pt; text-align: justify; text-indent: 0px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>, related to the </span>deconsolidation<span> of </span>Amaja</span><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; line-height: inherit; display: inline !important;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> Tubular Services Limited</span>.</span></span></span></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 2%;" valign="top"><span style="font-size: 8pt; line-height: inherit;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">(***)</span>}</span></td> <td style="height: 10px; vertical-align: top; padding: 0px; box-shadow: none; width: 98%;" valign="top"><span style="font-size: 9pt;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">For the year <span style="line-height: inherit;"><span id="fs_SAMK42TAZK00000000000000000000fs">2024</span></span>, related to </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Mattr’s pipe coating business unit acquisition</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> </tbody> </table> </div> 16371000 102973000 119344000 694000 11801000 12495000 79000 79000 42710000 14104000 56814000 2549000 2549000 15484000 2487000 17971000 44291000 128861000 173152000 19940000 16019000 35959000 -1301000 -18978000 -20279000 722000 722000 21296000 106198000 127494000 9839000 9839000 23564000 10827000 34391000 16371000 102973000 119344000 114900000 89400000 <p style="line-height: 12pt; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">26</span></span><span style="font: 7.0pt 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">Derivative financial instruments</span> </p> <p style="line-height: 12pt; margin: 0pt;"><br/></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">Net fair values of derivative financial instruments</span></p> <p style="line-height: 12pt; margin: 0pt;"><br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">The net fair values of derivative financial instruments</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">, in accordance with </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">IFRS </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_TE3UJZH1ZK00000000000000000000fs">13</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">re:</span></p> <p style="line-height: 10pt; margin: 0pt; text-align: justify;"><br/></p> <div id="t_ft_OW998X4OSW00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 156px;border-collapse: collapse;margin: 0px 0px 0px 0.1px;font-family: 'Frutiger 45 Light';font-size: 10pt;text-indent: 0px;width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 20px; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 12pt;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; width: 22.0214%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 76.9926%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_NCJZR0GTCG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_MUDFX505CW00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Other derivatives </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Contracts with positive fair values </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 76.9926%;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Derivatives hedging borrowings and investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,669 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_F6EAU8Y7MO00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Other derivatives </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (11,661 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Contracts with negative fair values </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (14,330 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-size: 10pt;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (12,455 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-size: 10pt;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-weight: bold; font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';"> (816</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> </div> <p style="line-height: 10pt; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 10pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">Other derivatives include contracts which are designated to hedge positions </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">other than borrowings and investments.</span></p> <p style="line-height: 10pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">Foreign e</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">xchange </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">and commodities </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">derivative</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;"> contracts</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;"> and hedge accounting</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 12pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">Te</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">naris applies hedge accounting </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">to certain cash flow hedges of highly probable forecast transactions. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">The net fair values of exchange rate derivatives</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> and those derivat</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">iv</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">es that were designated for hedge accounting as of December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 31,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span id="fs_GW3ML4XCYO00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_8LRZ4JAU1C00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_E47NFUGNDC00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> and <span id="fs_WRFH13PYRK00000000000000000000fs">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_2Q0K63150000000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_FQS3YE7SIO00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> were as follows:</span></p> <p style="line-height: 12pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><br/></p> <div style="border-left: none; border-right: none;"> <div id="fs_ZFCM6XUZEO00000000000000000000B"> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;text-indent: 0px;height: 306px;" width="100%"> <tbody> <tr style="height: 17px;"> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 32.7536%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">Purchase currency </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Sell currency </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Term </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 22.496%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Fair value </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.30435%;"><br/></td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 22.1739%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Hedge accounting reserve </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.32979%; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_O3YXX8IM7400000000000000000000fs">2025</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.48148%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_2QD24GWMLS00000000000000000000fs">2024</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 9.71014%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_FBNEENHDN400000000000000000000fs">2025</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_2DA008DYS000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.32979%; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; width: 32.7536%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> BRL </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; width: 10%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; width: 10.4348%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_XQ2A74TR0G00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.48148%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.01449%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,818 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.01449%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.30435%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 9.71014%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_CG50Y6GDWW00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.01449%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.44928%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,776 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.32979%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> EUR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 757 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,551 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 550 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,091 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> BRL </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 500 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,579 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (18 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_N8QXMYVMTC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> CAD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,169 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,465 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_BP51QCRVCG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_ZQJ6BEJJXS00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> EUR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span>/<span style="border-left: none; border-right: none;">2027</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (3,989 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,089 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,048 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 383 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> MXN </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 60 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 770 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_X8NYKC2MOG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_JIJTFIJ2LC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> KWD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 569 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_CD4JEUIASG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_JRIC56MBI800000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> MXN </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (4,726 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (282 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_GX7IIG94CW00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_D2671XOJB400000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> NGN </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (43 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_SM41YHRHOW00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_MFE1PZM5SW00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> ARS </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 56 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_QKSKZDJS4G00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 19 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_ZDJOQVVBY800000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> COP </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (171 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 202 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_V06OVWQ0Y800000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_I5N6Z2L4FK00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> GBP </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (108 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 134 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_NGV0PS26KG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_20Q549YSCG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> CNY </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (65 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 73 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_OZ0FKWDPHC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_5WIYWV4SO000000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> RON </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (39 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (31 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_4T3PC82H4000000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_WHF6AQDSPC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Others </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (417 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 5 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 77 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 120 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.4348%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (10,142 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.48148%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (8 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 9.71014%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (420 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 188 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><br/></p> <div> </div> <div id="t_ft_9AI4L23W8W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 139px;border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 20px; border-bottom-width: 1px; border-bottom-style: solid; width: 42.9907%; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Commodity derivatives </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 20px; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Term </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 21.896%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Fair value </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 22.2965%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Hedge accounting reserve </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 1.06809%; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_I3RS6MXO9S00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_SA4LGUFRK000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_5KH4U1BY0000000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 1.33511%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_1WWTBFD5B400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 1.06809%; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> LME Scrap </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_MIHOM2VPHC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_BAUI5PFV8G00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.33511%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.06809%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> PSV Gas </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; text-align: center;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,415 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,097 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,415 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.33511%; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,097 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.06809%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Nickel </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (194 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 52 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (194 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.33511%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 52 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.06809%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Houston Ship Channel Gas </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_YORJUGUYJ400000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 34 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_FW7NI9F88G00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.33511%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 34 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.06809%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Electric Energy </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (301 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (17 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (301 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.33511%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (17 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.06809%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> TTF Gas </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (403 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_XNVRFYTE1C00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (403 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.33511%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_K8T19CO0N400000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.06809%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (2,313 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (808 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (2,313 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.33511%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (808 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.06809%;"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> </div> </div> <br/></div> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal;">F</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal;">ollowing is a summary</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal;"> of the hedge reserve evolution:</span></p> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><br/></p> <div id="t_ft_K71RLDA4WG00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;height: 68px;text-indent: 0px;" width="100%"> <tbody> <tr style="height: 34px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 34px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 12pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Equity </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">eserve </span></span><br/><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Dec-2023</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements <span id="fs_NVKCUN89FK00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Equity </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">eserve </span></span><br/><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Dec-2024</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements <span id="fs_LJN636N43400000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Equity </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">eserve </span></span><br/><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Dec-2025</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 43%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Foreign Exchange &amp; Commodities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 8,133 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (8,753 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (620 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,733 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Total Cash flow Hedge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 8,133 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (8,753 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (620 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (2,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (2,733 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><br/></p> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">Tenaris estimates that t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">he </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">majority of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">cash flow he</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">dge reserve </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">corresponding to derivatives instruments </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">at </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">December 31, 20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;"><span id="fs_PYXQGLPF7K00000000000000000000fs">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;"><span id="fs_7SNB0YO86O00000000000000000000fs">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;"> will be recycled to the Consolida</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">ted Income </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">Statement </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">during <span id="fs_O0USMYE0Y800000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;"><span id="fs_SY3V540GLC00000000000000000000fs">6</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;"> For informa</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">tion on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">hedge accounting reserve,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">see</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">ection III.D</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;"> to these Consolidated Financial Statements</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt;">.</span></p> <table cellpadding="0" cellspacing="0" style="height: 156px;border-collapse: collapse;margin: 0px 0px 0px 0.1px;font-family: 'Frutiger 45 Light';font-size: 10pt;text-indent: 0px;width: 100%;" width="100%"> <tbody> <tr style="height: 20px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 20px; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 12pt;"> </span><br/></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; width: 22.0214%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 20px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 76.9926%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_NCJZR0GTCG00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_MUDFX505CW00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Other derivatives </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Contracts with positive fair values </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 1,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 7,484 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; width: 0.986031%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 76.9926%;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Derivatives hedging borrowings and investments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,669 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_F6EAU8Y7MO00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Other derivatives </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (11,661 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Contracts with negative fair values </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (14,330 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-size: 10pt;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (8,300 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 76.9926%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (12,455 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-size: 10pt;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold; font-size: 10pt;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10.0247%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-weight: bold; font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light';"> (816</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 0.986031%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> 1875000 7484000 1875000 7484000 2669000 11661000 8300000 14330000 8300000 -12455000 -816000 <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;text-indent: 0px;height: 306px;" width="100%"> <tbody> <tr style="height: 17px;"> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 32.7536%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;">Purchase currency </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Sell currency </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Term </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 22.496%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Fair value </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.30435%;"><br/></td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 22.1739%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Hedge accounting reserve </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.32979%; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_O3YXX8IM7400000000000000000000fs">2025</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.48148%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_2QD24GWMLS00000000000000000000fs">2024</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 9.71014%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_FBNEENHDN400000000000000000000fs">2025</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_2DA008DYS000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 1.32979%; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; width: 32.7536%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> BRL </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; width: 10%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; width: 10.4348%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_XQ2A74TR0G00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.48148%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.01449%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,818 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.01449%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.30435%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 9.71014%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_CG50Y6GDWW00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.01449%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.44928%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,776 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.32979%; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> EUR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 757 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,551 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 550 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,091 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> BRL </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 500 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,579 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (18 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_N8QXMYVMTC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> CAD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,169 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,465 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_BP51QCRVCG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_ZQJ6BEJJXS00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> EUR </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span>/<span style="border-left: none; border-right: none;">2027</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (3,989 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,089 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,048 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 383 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> MXN </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 60 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 770 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_X8NYKC2MOG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_JIJTFIJ2LC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> KWD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 569 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_CD4JEUIASG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_JRIC56MBI800000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> MXN </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (4,726 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (282 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_GX7IIG94CW00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_D2671XOJB400000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> NGN </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (43 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (212 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_SM41YHRHOW00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_MFE1PZM5SW00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> ARS </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 56 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_QKSKZDJS4G00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 19 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_ZDJOQVVBY800000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> COP </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (171 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 202 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_V06OVWQ0Y800000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_I5N6Z2L4FK00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> GBP </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (108 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 134 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_NGV0PS26KG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_20Q549YSCG00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> CNY </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (65 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 73 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_OZ0FKWDPHC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_5WIYWV4SO000000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> RON </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> USD </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (39 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (31 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_4T3PC82H4000000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_WHF6AQDSPC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Others </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; background-color: #cceeff; width: 10.4348%;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (417 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.48148%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 5 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.71014%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 77 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 120 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1.32979%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 32.7536%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"> </span><br/></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.4348%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (10,142 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.48148%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (8 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.30435%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 9.71014%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (420 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.44928%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 188 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; width: 1.32979%; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 12pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><br/></p> <div> </div> <div id="t_ft_9AI4L23W8W00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="height: 139px;border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 20px; border-bottom-width: 1px; border-bottom-style: solid; width: 42.9907%; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Commodity derivatives </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 20px; border-bottom-width: 1px; border-bottom-style: solid; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Term </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 21.896%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Fair value </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 22.2965%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Hedge accounting reserve </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 1.06809%; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px;"> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_I3RS6MXO9S00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_SA4LGUFRK000000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_5KH4U1BY0000000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 1.33511%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 0.934579%; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; width: 10.0134%; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> <span id="fs_1WWTBFD5B400000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; height: 10px; width: 1.06809%; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> LME Scrap </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_MIHOM2VPHC00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_BAUI5PFV8G00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.33511%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,974 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.06809%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> PSV Gas </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; text-align: center;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,415 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,097 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (1,415 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.33511%; margin: 0px; text-indent: 0px; height: 17px;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 0.934579%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10.0134%; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 1,097 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1.06809%; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Nickel </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (194 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 52 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (194 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.33511%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 52 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.06809%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Houston Ship Channel Gas </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_YORJUGUYJ400000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 34 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_FW7NI9F88G00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.33511%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 34 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.06809%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Electric Energy </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (301 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (17 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (301 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.33511%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (17 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 1.06809%;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> TTF Gas </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; text-align: center; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> <span style="border-left: none; border-right: none;">2026</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (403 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_XNVRFYTE1C00000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (403 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.33511%;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"><span id="fs_K8T19CO0N400000000000000000000fs">-</span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; width: 1.06809%;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 42.9907%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> Total </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (2,313 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (808 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (2,313 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.33511%;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 0.934579%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10.0134%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (808 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; height: 17px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.06809%;"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> </div> -2818000 1776000 757000 -2551000 550000 -2091000 500000 1579000 -18000 -2169000 1465000 -3989000 1089000 -1048000 383000 60000 770000 212000 569000 -4726000 -282000 -43000 -212000 56000 19000 -171000 202000 -108000 134000 -65000 73000 -39000 -31000 -417000 5000 77000 120000 -10142000 -8000 -420000 188000 -1974000 -1974000 -1415000 1097000 -1415000 1097000 -194000 52000 -194000 52000 34000 34000 -301000 -17000 -301000 -17000 -403000 -403000 -2313000 -808000 -2313000 -808000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse;margin: 0px;font-family: 'Frutiger 45 Light';font-size: 10pt;width: 100%;height: 68px;text-indent: 0px;" width="100%"> <tbody> <tr style="height: 34px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 34px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 12pt;"> </span><br/></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Equity </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">eserve </span></span><br/><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Dec-2023</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements <span id="fs_NVKCUN89FK00000000000000000000fs" style="line-height: inherit;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Equity </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">eserve </span></span><br/><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Dec-2024</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Movements <span id="fs_LJN636N43400000000000000000000fs" style="line-height: inherit;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Equity </span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">eserve </span></span><br/><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Dec-2025</span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 34px; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; width: 43%; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Foreign Exchange &amp; Commodities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> 8,133 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (8,753 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (620 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 10%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> (2,733 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; width: 1%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> Total Cash flow Hedge </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> 8,133 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (8,753 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (620 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (2,113 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold;"> (2,733 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> 8133000 -8753000 -620000 -2113000 -2733000 8133000 -8753000 -620000 -2113000 -2733000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">27</span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Contingencies,</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> commitments and restrictions </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">o</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">n</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> the distribution of profits</span></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(i)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">              </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Contingencies</span></h3> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris is from time to time subject to various claims, lawsuits and other legal proceedings, including customer, employee, tax and environmental-related claims, in which third parties are seeking payment for alleged damages, reimbursement for losses, or indemnity. Management</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> with the assistance of legal counsel</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> periodically reviews the status of each significant matter and assesses potential financial exposure. </span></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Some of these claims, lawsuits and other legal proceedings involve highly complex issues, and often these issues are subject to substantial uncertainties and, therefore, the probability of loss and an estimation of damages are difficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits and other legal proceedings, the Company is unable to make a reliable estimate of the expected financial effect that will result from ultimate resolution of the proceeding. In those </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">situations</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Company has not accrued a provision for the potential outcome of these cases.</span> </p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">If a potential loss from a claim, lawsuit or other proceeding is considered probable and the amount can be reasonably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements and take into consideration litigation and settlement strategies. In a limited number of ongoing cases, the Company was able to make a reliable estimate of the expected loss or range of probable loss and, depending on the likelihood of occurrence, in some of such cases has accrued a provision for such loss but believes that publication of this information on a case-by-case basis would seriously prejudice the Tenaris’s position in the ongoing legal proceedings or in any related settlement discussions. Accordingly, in these cases, the Company has disclosed information with respect to the nature of the contingency but has not disclosed its estimate of the range of potential loss.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company believes that the aggregate provisions recorded for potential losses in these Consolidated Financial Statements</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are adequate based upon currently available information. However, if management’s estimates prove incorrect, current reserves could be inadequate and the Company could incur a charge to earnings which could have a material adverse effect on its results of operations, financial condition, net worth and cash flows. </span></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Below is a summary description of Tenaris’s material legal proceedings which are outstanding as of the date of these Consolidated Financial Statements. In addition, the Company is subject to other legal proceedings, none of which is believed to be material.</span></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="t_ft_ZB02Z2KLY800000000000000000000b"> <table style="width: 100%; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; height: 10px;"> <tbody> <tr style="height: 10px;"> <td style="width: 3%; text-align: center; padding: 0px; vertical-align: top; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="width: 97%; padding: 0px; box-shadow: none; height: 10px; vertical-align: top;" valign="top"> <p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;"> CSN claims relating to the January 2012 acquisition of Usiminas </span></p> </td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="text-align: justify; margin: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">The Company is a party to a longstanding lawsuit filed in Brazil by Companhia Siderúrgica Nacional (“CSN”), and various entities affiliated with CSN against the Company’s Brazilian subsidiary Confab and three subsidiaries of Ternium, all of which compose the T/T Group under the Usiminas shareholders agreement. The entities named in the CSN lawsuit had acquired participations in Usiminas in January 2012. The CSN lawsuit alleges that, under applicable Brazilian laws and rules, the acquirers were required to launch a tag-along tender offer to all non-controlling holders of Usiminas ordinary shares for a price per share equal to 80% of the price per share paid in such acquisition, or BRL28.8, and sought an order to compel the acquirers to launch an offer at that price plus interest. If so ordered, the offer would need to be made to 182,609,851 ordinary shares of Usiminas not belonging to Usiminas’ control group. Confab’s share in the offer would be 17.9%.</span></p> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On September 23, 2013, the first instance court dismissed the CSN lawsuit, and on February 8, 2017, the court of appeals maintained the understanding of the first instance court. On August 18, 2017, CSN filed an appeal to the Superior Court of Justice (“SCJ”) seeking the review and reversal of the decision issued by the Court of Appeals. On September 10, 2019, the SCJ declared CSN’s appeal admissible. On March 7, 2023, the SCJ, by majority vote, rejected CSN’s appeal. </span></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CSN made several submissions in connection with the SCJ March 7, 2023 decision, including a motion for clarification that challenged the merits of the SCJ decision. Decisions at the SCJ are adopted by majority vote. At an October 17, 2023 session, <span id="fs_T1JU5A91HC00000000000000000000fs">two</span> justices of the SCJ voted in favor of remanding the case to the first instance for it to be retried following production and assessment of the new evidence, and <span id="fs_KQ7LFQGJK000000000000000000000fs">two</span> justices of the SCJ voted, without requiring any further evidence, in favor of granting CSN’s motion for clarification and reversing the March 7, 2023 decision that rejected CSN’s appeal; because the fifth member of SCJ excused himself from voting, a justice from another panel at the SCJ was summoned to produce the tie-breaking vote. On June 18, 2024, the SCJ completed its voting on CSN’s motion for clarification and reversed, by majority vote, its March 7, 2023 decision, and resolved that Confab and the <span id="fs_CF61V5WBPS00000000000000000000fs">three</span> subsidiaries of Ternium should pay CSN an indemnification in connection with the acquisition by the T/T Group of a participation in Usiminas in January 2012, with CSN being allowed to retain ownership of the Usiminas ordinary shares it currently owns. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On August 1, 2024, Confab and the other T/T Group entities filed a motion for clarification against the SCJ decision and, subsequently, CSN filed its reply. On December 6, 2024, the SCJ rejected this motion for clarification, confirming the obligation of Confab and the other T/T Group entities to pay indemnification in connection with the <span id="fs_MQPJZ5DH7400000000000000000000fs">2012</span> acquisition of the participations in Usiminas. Notwithstanding the foregoing, the SCJ unanimously resolved to modify the applicable monetary adjustment mechanism and to cap the applicable attorney’s fees, thereby lowering the aggregate amount that would be payable if CSN ultimately prevails in this claim. Based on such SCJ decision, assuming monetary adjustment through </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_09YVMV0CV400000000000000000000fs">1</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_SJGMWUEZ3400000000000000000000fs">2025</span>, and attorney’s fees in the amount of BRL5 million, the revised aggregate amount potentially payable by Confab if CSN finally prevails on its claims, would be of approximately BRL</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">632.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million (approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">114.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million at the BRL/$ rate as of such date).</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company continues to believe that all of CSN's claims and allegations are unsupported and without merit, as confirmed by several opinions of Brazilian legal counsel, <span id="fs_1XKWODTDMO00000000000000000000fs">two</span> decisions issued by the Brazilian securities regulator in February 2012 and December 2016, the first and second instance court decisions and the March 7, 2023 SCJ decision referred to above, and that in connection with the Usiminas acquisition the T/T Group was not required either to launch a tender offer or to pay indemnification to CSN. Accordingly, on February 10, 2025, Confab and the other T/T Group entities filed a request for extraordinary appeal against the SCJ decisions that ordered an indemnification payment, seeking their review and reversal by the Supreme Federal Tribunal. On September 10, 2025, the Vice-President of the SCJ, without examining the merits, denied leave to proceed with the extraordinary appeal as to certain arguments and ruled it inadmissible as to certain others, and on October 2, 2025, Confab and the other T/T Group entities filed an internal appeal for the special court of the SCJ to reconsider the denial of leave to proceed and a concurrent appeal against the inadmissibility ruling for the Supreme Federal Tribunal to consider admissibility of the extraordinary appeal directly. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On November 26, 2025, the special court of the SCJ rejected Confab and the other T/T Group entities' internal appeal. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Supreme Federal Tribunal has not yet ruled on the admissibility of the extraordinary appeal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company cannot predict the ultimate resolution on the matter.</span></p> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="t_ft_GCMQXRJVSW00000000000000000000b"> <table style="width: 100%; margin: 0px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; text-indent: 0px;"> <tbody> <tr> <td style="width: 3%; text-align: center; padding: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px;" valign="top"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;">•</span></td> <td style="width: 97%; padding: 0px; vertical-align: top; box-shadow: none; margin: 0px; text-indent: 0px;" valign="top"> <p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;"> Veracel Celulose accident litigation </span></p> </td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="text-align: justify; line-height: 1.2; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;">On September 21, 2007, an accident occurred in the premises of Veracel Celulose S.A. (“Veracel”) in connection with a rupture in <span id="fs_NRKYGO64HS00000000000000000000fs">one</span> of the tanks used in an evaporation system manufactured by Confab. The Veracel accident allegedly resulted in material damages to Veracel. Itaú Seguros S.A. (“Itaú”), Veracel’s insurer at the time of the Veracel accident and then replaced by Chubb Seguros Brasil S/A (“Chubb”), initiated a lawsuit against Confab seeking reimbursement of damages paid to Veracel in connection with the Veracel accident. Veracel initiated a second lawsuit against Confab seeking reimbursement of the amount paid as insurance deductible with respect to the Veracel accident and other amounts not covered by insurance. Itaú and Veracel claimed that the Veracel accident was caused by failures and defects attributable to the evaporation system manufactured by Confab. Confab believes that the Veracel accident was caused by the improper handling by Veracel’s personnel of the equipment supplied by Confab in violation of Confab’s instructions. The <span id="fs_DRM2YC14QO00000000000000000000fs">two</span> lawsuits were consolidated and are considered by the <span id="fs_FSF8R39Z6800000000000000000000fs">6</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 6.67pt; vertical-align: super; line-height: inherit;">th</span><span style="font-size: 10pt; font-family: 'Frutiger 45 Light'; line-height: inherit;"> Civil Court of São Caetano do Sul. However, each lawsuit will be adjudicated separately.</span></p> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On September 28, 2018, Confab and Chubb entered into a settlement agreement pursuant to which on October 9, 2018, Confab paid an amount of approximately $3.5 million to Chubb, without assuming any liability for the accident or the claim.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On October 10, 2018, Confab was notified that the court had issued rulings for both lawsuits. Both decisions were unfavorable to Confab:</span></p> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="t_ft_BIRGTC6NXS00000000000000000000b"> <table style="width: 100%; margin-left: 0px; height: 141px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 17px;"> <td style="width: 3%; height: 17px; text-align: center; padding: 0px; vertical-align: top; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="width: 97%; height: 17px; padding: 0px; vertical-align: top; box-shadow: none; text-align: justify;" valign="top"> <p style="line-height: 1.2; margin: 0pt 0pt 10pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> With respect to Chubb’s claim, the court subsequently homologated the above-mentioned settlement and, accordingly, the claim was finalized. </span></p> </td> </tr> <tr style="height: 99px;"> <td style="height: 99px; text-align: center; padding: 0px; vertical-align: top; box-shadow: none; width: 3%;" valign="top"> <p><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> • </span></p> </td> <td style="height: 99px; padding: 0px; vertical-align: top; box-shadow: none; width: 97%; text-align: justify;" valign="top"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">With respect to Veracel’s claim, Confab was ordered to pay the insurance deductible and other concepts not covered by insurance, currently estimated to amount to BRL</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">121.0</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;"> </span>million (approximately $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">22.0</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;"> </span>million) including interest, fees and expenses. Both parties filed motions for clarification against the court’s decision, which were partially granted. Although the contract between Confab and Veracel expressly provided that Confab would not be liable for damages arising from lost profits, the court award would appear to include BRL</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">103.8</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;"> </span>million (approximately $</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">18.9</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;"> </span>million) of damages arising therefrom. Confab has additional defen</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">c</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e arguments in respect of a claim for lost profits.<span style="line-height: inherit;"> </span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">After an appeal</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;"> </span>against the first instance court decision,<span style="line-height: inherit;"> </span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he court resolved<span style="line-height: inherit;"> </span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in June 2022<span style="line-height: inherit;"> </span></span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: -24px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">that it lacked jurisdiction to decide on the appeal, which was re-allocated to another court. On August 26, 2024, the court issued a decision rejecting certain procedural objections and ordering that new expert evidence be produced. As a result, the trial was redirected to the first instance court for new technical evidence to be produced by a new expert. On August 11, 2025, Confab filed an appeal with the SCJ against the ruling on the additional expert evidence. At this stage, the Company cannot predict the outcome of the claim or the amount or range of loss in case of an unfavourable outcome.</span></td> </tr> <tr style="height: 15px;"> <td style="text-align: center; padding: 0px; vertical-align: top; box-shadow: none; width: 3%; height: 15px;"><br/></td> <td style="padding: 0px; vertical-align: top; box-shadow: none; width: 97%; text-align: justify; height: 15px;"><br/></td> </tr> <tr style="height: 10px;"> <td style="height: 10px; text-align: center; padding: 0px; box-shadow: none; vertical-align: top; width: 3%;" valign="top"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">•</span></span></td> <td style="height: 10px; padding: 0px; vertical-align: top; box-shadow: none; width: 97%; text-align: justify;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-indent: -29.0667px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Petrobras-related proceedings and claims</span></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Upon learning of certain government investigations as to whether certain payments were made prior to <span id="fs_OQYKG4QTPC00000000000000000000fs">2014</span> from accounts of entities presumably associated with affiliates of the Company to accounts allegedly linked to individuals related to Petróleo Brasileiro S.A. (“Petrobras”) and whether any such payments were intended to benefit the Company’s Brazilian subsidiary Confab, the Audit Committee of the Company's Board of Directors engaged external counsel in connection with the Company’s review of these matters. In addition, the Company voluntarily notified the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) in October 2016, conducted, with the assistance of external counsel, an internal investigation, and found no evidence corroborating any involvement by the Company or its directors, officers or employees in respect of improper payments. An internal investigation commissioned by Petrobras also found no evidence that Confab obtained any unfair commercial benefit or advantage from Petrobras in return for payments, including improperly obtained contracts. On June 2, 2022, the Company resolved the investigation by the SEC, and the DOJ informed that it had closed its parallel inquiry without taking action. Under the settlement with the SEC, the Company neither admits nor denies the SEC’s findings and on June 24, 2022, paid $53.1 million in disgorgement and prejudgment interest and $25 million for a civil penalty to conclude the matter.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In July 2019, the Company learned that the public prosecutors’ office of Milan, Italy, had completed a preliminary investigation into the same alleged payments and had included in the investigation, among other persons, the Company’s Chairman and Chief Executive Officer, <span id="fs_AEEDN3P18000000000000000000000fs">two</span> other board members, Gianfelice Rocca and Roberto Bonatti, and the Company’s controlling shareholder, San Faustin. The Company was not a party to the proceedings. On March 22, 2022, upon completion of the evidentiary phase of the trial, the acting prosecutor requested the first-instance court in Milan in charge of the case to impose sanctions on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the Company’s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Chairman and Chief Executive Officer, on the other <span id="fs_5FKUJQ889S00000000000000000000fs">two</span> board members, and on San Faustin. On May 26, 2022, the first-instance court dismissed the case brought by the public prosecutor against the defendants for lack of jurisdiction and stated that the criminal proceeding should not have been initiated. On February 22, 2024, the court of appeals referred the case to the court of cassation, which, on May 23, 2024, confirmed the decision of the first-instance court and closed the case.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In June 2020, the Brazilian public prosecutors’ office requested the indictment of several individuals, including <span id="fs_PALIYQZDC000000000000000000000fs">three</span> executives or former executives of Confab and a former agent of Confab, charging them with the alleged crimes of corruption in relation to contracts executed between <span id="fs_Y2HBYMTY1C00000000000000000000fs">2007</span> and <span id="fs_DOTR36ANY800000000000000000000fs">2010</span>, and money laundering in relation to payments between <span id="fs_TSD1O824PC00000000000000000000fs">2009</span> and <span id="fs_CNB7AN2SBK00000000000000000000fs">2013</span>. On December 11, 2024, the Confab executives were acquitted. The acquittal has already been appealed, so the criminal proceedings continue to be underway. Neither the Company nor Confab is a party to these criminal proceedings.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In addition, Petrobras and the Brazilian public prosecutors filed civil claims for alleged damages arising from the same event against, among others, Confab and the Confab executives named in the criminal proceedings referred to above. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The plaintiffs also seek that Confab be prohibited from contracting with, or receiving benefits or exemptions from, the Brazilian state for an unspecified term. Confab became aware of these civil claims in September 2022</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and filed its defen</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e in February 2025, among other things, requesting the suspension of the case until a final decision is made on the jurisdiction and the dismissal on the merits of the claims made by Petrobras and the public prosecutors. As of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_Y4O16I3H6800000000000000000000fs">1</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_QG1U30HVCW00000000000000000000fs">2025</span>, the aggregate amount of these claims was estimated at BRL</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">201.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million (or approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">36.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million).</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Confab believes these claims do not address either the defence arguments or the evidence available to the plaintiffs in Brazil and presented in other jurisdictions and is vigorously contesting them. Based on the advice of legal counsel, the Company cannot predict the outcome of these civil proceedings at this stage.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In late </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">March 2024, the Company became aware of a resolution of Brazil’s General Controllers Office (“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Controladoria-Geral da União”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;"> or G</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">CO</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">), which opened administrative responsibility proceedings against Confab and other non-Tenaris affiliates and formed an investigative commission charged with investigating purported irregularities.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Potential outcomes of an adverse G</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CO</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> decision include a declaration of ineligibility for contracting with the Brazilian state for up to <span id="fs_CT6TMTYFZK00000000000000000000fs">six</span> years. Confab received notice in February 2025 and believes that the G</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CO</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">’s allegations do not address either the defen</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">c</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">e arguments or the evidence available to the plaintiffs in Brazil and presented in other jurisdictions. On April 7, 2025, Confab filed its </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">defence</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and contested the allegations. On September 12, 2025, Confab opened discussions with G</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CO</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> towards seeking a resolution of the matter, and such discussions are ongoing. Based on the advice of legal counsel, the Company cannot predict the outcome of these administrative proceedings at this stage.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div style="margin: 0px; text-indent: 0px;"> </div> <div> <table style="width: 100%; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 3%; text-align: center; padding: 0px; vertical-align: top; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="width: 97%; padding: 0px; vertical-align: top; box-shadow: none;" valign="top"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;"> U.S. patent infringement litigation<span style="font-size: 8pt;">⁸</span> </span></p> </td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="text-align: justify; line-height: 1.2; margin: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris Coiled Tubes, LLC (“TCT”), a U.S. subsidiary of the Company, was sued in <span id="fs_UJ8T19TYEO00000000000000000000fs">2017</span> by its competitor Global Tubing, alleging defamatory conduct by TCT and seeking a declaration that certain Global Tubing products do not infringe patents held by TCT. TCT counterclaimed that certain Global Tubing products did infringe patents held by TCT, and Global Tubing has since sought to invalidate such patents. On December 13, 2019, Global Tubing filed an amended complaint (including the Company as defendant), alleging, among other things, that TCT and the Company had misled the patent office. On March 20, 2023, the judge granted summary judgment in favor of Global Tubing, concluding that the patents at issue are unenforceable due to inequitable conduct during the patent prosecution process. TCT appealed this judgment, and Global Tubing appealed a previous ruling of the judge. Global Tubing also filed a brief seeking to recover attorneys’ fees, without specifying the amount of those fees. On February 26, 2026, the Federal Circuit issued an opinion reversing the finding of inequitable conduct by TCT, and reversing the lower court’s dismissal of Global’s antitrust claim. As a practical matter, both issues will return to the lower court to eventually be resolved in a jury trial. Although it is not possible to predict the final outcome of this matter, the Company believes that any potential losses arising from this case will not be material.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="t_ft_US1COTI2KW00000000000000000000b"> <table style="width: 100%; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 3%; text-align: center; padding: 0px; vertical-align: top; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="width: 97%; padding: 0px; vertical-align: top; box-shadow: none;" valign="top"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; letter-spacing: -0.1pt; line-height: inherit;"> U.S. antidumping duty proceedings </span></p> </td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="text-align: justify; margin: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">On October 26, 2021, the U.S. Department of Commerce (“DOC”) initiated antidumping duty investigations of oil country tubular goods (“OCTG”) from Argentina, Mexico, and Russia. After the DOC issued affirmative preliminary and final antidumping determinations with respect to imports from Argentina, Mexico and Russia on November 14, 2022, the International Trade Commission determined that the imports under investigation caused injury to the U.S. OCTG industry. Tenaris and other parties appealed the agency determinations from the investigation to the Court of International Trade, and, with respect to certain claims, to the Court of Appeals for the Federal Circuit. In addition, in response to a request from the Government of Argentina, the World Trade Organization (“WTO”) established a panel of experts to consider whether the DOC’s antidumping order applicable to Argentina is consistent with the international obligations of the United States.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As a result of the investigations, Tenaris was required to pay antidumping duty deposits (at a rate of 78.30% for imports from Argentina and 44.93% for imports from Mexico) until such time the imports were reviewed by the DOC to determine whether final duties were necessary for the specific period under review. Tenaris paid such deposits for the first review period (which ran from May 11, 2022, through October 31, 2023) </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and for subsequent review periods </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">until the final determinations by the DOC discussed below were published. The amount of such deposits was reflected in Tenaris’s costs. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On June 6, 2025, the DOC issued a final determination with respect to imports from Argentina that occurred during the first review period, announcing a final antidumping </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">duty </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">rate of 6.76% for imports by Tenaris. This lower rate (reduced from 78.30%) became the deposit rate for Tenaris’s imports from Argentina as from June 12, 2025. No appeal was filed against the DOC’s final determination and, accordingly, the DOC instructed the customs authorities to liquidate the corresponding refunds at the assessment rate of Tenaris’s imports from Argentina for the first review period, with such instructions becoming effective on August 4, 2025</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">he resulting gain (including interest) was recognized in these Consolidated Financial Statements.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">No refunds ha</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ve</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> been received as of December 31, 2025.</span></p> <table style="width: 20%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="width: 100%; border-bottom: 1pt solid #000000; box-shadow: none;"><br/></td> </tr> </tbody> </table> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;">⁸ This note was updated subsequently to the approval of these Consolidated Financial Statements by the Company’s Board of Directors on February 18, 2026.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"><br/></span></p> <div style="margin: 0px; text-indent: 0px;"> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On September 5, 2025, the DOC issued its final determination for imports from Mexico that occurred during the first review period, announcing a final rate of 26.10%. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">This lower rate (reduced from 44.93%) became the deposit rate for Tenaris’s imports from Mexico as from September 15,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_URGY60819S00000000000000000000fs">2025</span>. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Both petitioners and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">appeal</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> this determination. As a result, the DOC has not instructed the customs authorities to liquidate these entries and will not do so while the appeals are ongoing.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As a result of these periodic reviews, the deposit rates on future imports can change, and the antidumping duty deposits paid on imports during the relevant review period may be either returned to Tenaris (in whole or in part) or increased.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> audit report issued by an audit team of the U.S. Customs and Border Protection (</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CBP</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">), CBP conclude</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">should have paid antidumping duties on imports of mechanical and other pipe, which CBP believes to be subject to the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">antidumping </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">orders on OCTG from Argentina and Mexico. CBP’s audit report calculate</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> loss of revenue to the United States of approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">49.6 million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> for years <span id="fs_IESPK9TIGW00000000000000000000fs">2022</span>, <span id="fs_YW937A49DC00000000000000000000fs">2023</span> and <span id="fs_PBNWBZ46UO00000000000000000000fs">2024</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. However, CBP also appears to indicate that its calculation will be adjusted to conform with any clarification of the scope of the relevant OCTG orders that the DOC may issue. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris considers imports of mechanical or other pipe to be out of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">scope and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> has filed a scope clarification request with the DOC. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Based on the advice of counsel, Tenaris believes that the loss contingency arising from the CBP report is neither probable nor capable of a reliable estimate at this time.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">CBP separately instructed T</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">enaris </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to modify its treatment of imports effective January 2025 and forward so that imports of certain mechanical and other pipe would be considered to be subject to the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">antidumping </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">orders on OCTG from Argentina and Mexico. As a result, unless CBP changes its stated position on its own initiative or after clarification by DOC, the entries on and after January 1, 2025</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> will require the payment of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">antidumping duty</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> deposits, and the liquidation of these entries will remain suspended during the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">antidumping </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">administrative review process. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The amount of such deposits was reflected in Tenaris’s costs</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span></p> <p style="line-height: 1.2; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">(ii)</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">                </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">Commitments and guarantees</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Set forth is a description of Tenaris’s main outstanding commitments:</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <div id="t_ft_8O6803A40000000000000000000000b"> <table style="width: 100%; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; height: 174px;"> <tbody> <tr style="height: 45px;"> <td style="width: 3%; padding: 0px; vertical-align: top; text-align: center; box-shadow: none; height: 45px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="width: 97%; padding: 0px; vertical-align: top; box-shadow: none; text-align: justify; height: 45px;" valign="top"> <p style="margin: 0pt 0pt 10pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Certain subsidiaries of the Company are parties into a long-term contract with Praxair S.A. for the service of oxygen and nitrogen supply. As of December </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">31, <span id="fs_0Q2DNO024G00000000000000000000fs">2025</span>, the aggregate amount to take or pay the committed volumes for an original 14-year term totaled approximately $24.8 million. </span></p> </td> </tr> <tr style="height: 56px;"> <td style="padding: 0px; vertical-align: top; text-align: center; box-shadow: none; height: 56px; width: 3%;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="padding: 0px; vertical-align: top; box-shadow: none; text-align: justify; height: 56px; width: 97%;" valign="top"> <p style="margin: 0pt 0pt 10pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> A Mexican subsidiary of the Company is a party to a 25-year contract (effective as of December 1, 2016, through December 1, 2041) with Techgen for the supply of <span id="fs_CESAG9K0U800000000000000000000fs">197</span> MW (which represents 22% of Techgen’s capacity). Monthly payments are determined on the basis of capacity charges, operation costs, back-up power charges, and transmission charges. As of the seventh contract year (as long as Techgen’s existing or replacing bank facility has been repaid in full), the Company’s subsidiary has the right to suspend or early terminate the contract if the rate payable under the agreement is higher than the rate charged by the Mexican Comisión Federal de Electricidad (“CFE”) or its successors. The Company’s subsidiary may instruct Techgen to sell to any affiliate, to CFE, or to any other third party all or any part of unused contracted energy under the agreement and the Company’s subsidiary will benefit from the proceeds of such sale. </span></p> </td> </tr> <tr style="height: 73px;"> <td style="padding: 0px; vertical-align: top; text-align: center; box-shadow: none; margin: 0px; text-indent: 0px; height: 73px; width: 3%;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="padding: 0px; vertical-align: top; box-shadow: none; text-align: justify; margin: 0px; text-indent: 0px; height: 73px; width: 97%;" valign="top"> <p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> In connection with the closing of the acquisition of IPSCO, a U.S. subsidiary of the Company entered into a 6-year master distribution agreement (the “MDA”) with PAO TMK (“TMK”) whereby, since January 2, 2020, Tenaris became the exclusive distributor of TMK’s OCTG and line pipe products in United States and Canada. At the end of the MDA’s <span id="fs_NTYCKY4DWW00000000000000000000fs">6</span>-year term, TMK would have the option to extend the duration of its term for an additional 12-month period. Under the MDA, the Company is required to purchase specified minimum volumes of TMK-manufactured OCTG and line pipe products, based on the aggregate market demand for the relevant product category in the United States in the relevant year. In February 2022, however, the Company and TMK agreed that there would be no minimum yearly purchase requirement for the OCTG product category for <span id="fs_5EZWMQ57E800000000000000000000fs">2022</span>, and there would be no minimum yearly purchase requirement for TMK line pipe products under the MDA neither for <span id="fs_NEVDC782M800000000000000000000fs">2022</span>, nor for any subsequent contract year until January 2, 2026. In addition, no purchases of TMK products have been made since <span id="fs_ADFBCZVD7400000000000000000000fs">2023</span>. As of the date of this Consolidated Financial Statements, the MDA has expired. </span></p> </td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span></p> <div style="margin: 0px; text-indent: 0px;"> </div> <div> <table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr> <td style="padding: 0px; vertical-align: top; text-align: center; box-shadow: none; width: 3%; margin: 0px; text-indent: 0px;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="padding: 0px; vertical-align: top; box-shadow: none; text-align: justify; width: 97%; margin: 0px; text-indent: 0px;" valign="top"> <p style="margin: 0pt 0pt 10pt; text-indent: 0pt; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Certain subsidiaries of the Company are parties to a long-term contract with the supplier JFE Steel Corporation for the purchase of tubular material, including <span id="fs_JL9G6QBF4G00000000000000000000fs">13</span> chrome alloy products. Such contract foresees a penalty for a maximum amount of $18.9 million in case of early termination. The contract will be in effect until June 30, 2029. </span></p> </td> </tr> <tr> <td style="padding: 0px; vertical-align: top; text-align: center; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="padding: 0px; vertical-align: top; box-shadow: none; text-align: justify;" valign="top"> <p style="margin: 0pt 0pt 10pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Certain subsidiaries of the Company are parties to contracts with Vestas Argentina for the maintenance of wind farms in Argentina. Such contracts foresee penalties for a maximum amount of $23.2 million in case of early termination. </span></p> </td> </tr> <tr> <td style="padding: 0px; vertical-align: top; text-align: center; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="padding: 0px; vertical-align: top; box-shadow: none; text-align: justify;" valign="top"> <p style="margin: 0pt 0pt 10pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> An Argentine subsidiary of the Company is party to a contract with Usiminas from which it committed to purchase steel coils to manufacture welded pipes for certain projects in Argentina. As of December 31, <span id="fs_NLI6DZFBOG00000000000000000000fs">2025</span>, purchases for approximately $24.4 million remain pending. </span></p> </td> </tr> <tr> <td style="padding: 0px; vertical-align: top; text-align: center; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="padding: 0px; vertical-align: top; box-shadow: none; text-align: justify;" valign="top"> <p style="margin: 0pt 0pt 10pt; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> A subsidiary of the Company is party to a contract with Voestalpine Grobblech GmbH from which it committed to purchase steel plates to manufacture welded pipes for the third phase of the Sakarya gas field development project in Turkey. As of December 31, 2025, purchases for approximately $47.8 million remain pending. </span></p> </td> </tr> <tr> <td style="padding: 0px; vertical-align: top; text-align: center; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 17.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="padding: 0px; vertical-align: top; box-shadow: none; text-align: justify;" valign="top"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> A U.S. subsidiary of the Company is a party to a framework supply agreement with Nucor Steel Memphis Inc. (“Nucor”) pursuant to which Nucor agrees to supply, and the subsidiary intends to purchase, up to a specified tonnage of steel bars per month, subject to a rolling <span id="fs_20E9392NIO00000000000000000000fs">three</span>-month forecast provided by the subsidiary. The subsidiary has no obligation to purchase volumes outside the forecasted quantities. Prices are determined in accordance with a contractual pricing formula, subject to applicable surcharges and adjustments. The contract became effective in January 2026, with an original duration of 1 year. </span></p> </td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In addition, Tenaris (i) applied for stand-by letters of credit as well as corporate guarantees covering certain obligations of Techgen as described in </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NVRBDG9GFK00000000000000000000fs">14</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (c) and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (ii) issued performance guarantees mainly related to long-term commercial contracts with several customers for approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">4.0</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> billion as of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_NP9CVEBL4G00000000000000000000fs">1</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_2KJTQWIMC000000000000000000000fs">2025</span>.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> </span></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">(iii)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">              </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">Restrictions </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;"> the distribution of profits and payment of dividends</span></h3> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; line-height: 1.2; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In accordance with Luxembourg Law, the Company is required to transfer a minimum of 5% of its net profit for each financial year to a legal reserve until such reserve equals 10% of the issued share capital.</span></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; line-height: 1.2; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_ITUSO2MES000000000000000000000fs">1</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_VRAZ7W6V8000000000000000000000fs">2025</span>, this reserve is fully allocated and additional allocations to the reserve are not required under Luxembourg law. Dividends may not be paid out of the legal reserve.</span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; line-height: 1.2; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On April 30, 2024, the extraordinary general meeting of shareholders approved the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">cancellation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">17,779,302</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ordinary shares held in treasury by the Company repurchased during the first tranche of the initial share buyback program and the corresponding reduction of the issued share capital of the Company and, accordingly, the legal reserve was proportionally reduced.</span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; line-height: 1.2; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On May 6, 2025, the extraordinary general meeting of shareholders approved the cancellation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">90,762,598</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ordinary shares held in treasury by the Company repurchased during the second, third and fourth tranches of the first share buyback program and throughout the second share buyback program and the corresponding reduction of the issued</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> share capital of the Company and, accordingly, the legal reserve was proportionally reduced.</span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; line-height: 1.2; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company may pay dividends to the extent, among other conditions, that it has distributable retained earnings calculated in accordance with Luxembourg law and regulations.</span></p> 3 0.80 28.8 182609851 0.179 5000000 632500000 114900000 3500000 121000000 22000000 103800000 18900000 53100000 25000000 201700000 36700000 0.783 0.4493 0.0676 0.783 0.261 0.4493 49600000 P14Y 24800000 P25Y 0.22 P6Y P12M 18900000 23200000 24400000 47800000 P1Y 4000000000 0.05 0.10 17779302 90762598 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;"><span id="fs_K03BUS3NU800000000000000000000fs">28</span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Developments concerning cancelled title deeds in Saudi Steel Pipe Company</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In early <span id="fs_QDVWV34JV400000000000000000000fs">2021</span>, the Company learned through the Saudi Ministry of Justice’s online portal that the electronic title deeds to certain land plots of its Saudi Arabian subsidiary SSPC had become inactive due to cancellation by court order. The affected land plots, which were not part of SSPC’s production facility and have a total surface of 811,284 square meters, are located in Dammam, Saudi Arabia, and were purchased on February 2010, pursuant to a written purchase agreement duly executed by SSPC in full compliance with the laws of the Kingdom of Saudi Arabia. The land purchase transaction occurred before Tenaris’s acquisition of a 47.79% interest in SSPC in <span id="fs_BE4CWZ982O00000000000000000000fs">2019</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On April 28, 2025, SSPC concluded a settlement with the sellers of the land plots purchased in <span id="fs_CEG6ZS2DSG00000000000000000000fs">2010</span>. Pursuant to the settlement, the land purchase transaction was unwound, and the sellers paid an aggregate amount of SAR211 million (or approximately $56.2 million)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in cash. Additionally, the sellers released</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">SSPC from any claim on the lands or its title deeds and assumed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">all rights and obligations related to the pending petition.</span></p> 811284 0.4779 211000000 56200000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">29</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">Foreign e</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">xchan</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">ge c</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">ontrol </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">measures</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;"> in Argentina</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Between September 2019 and December 13, 2023, the Argentine government imposed significant restrictions on foreign exchange transactions. After a new administration took office in Argentina in December 2023, some of these restrictions have been progressively lifted or eased. The main currently applicable measures are described below:</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <table style="width: 100%; margin: 0px; height: 130px; font-family: &quot;times new roman&quot;; font-size: 10pt; text-indent: 0px;"> <tbody> <tr style="height: 52px;"> <td style="width: 3%; box-shadow: none; height: 52px; text-align: center; padding: 0px 0px 7px; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="width: 97%; box-shadow: none; height: 52px; text-align: justify; padding: 0px 0px 7px; vertical-align: top;" valign="top"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Foreign currency proceeds derived from exports of goods must be sold into the Argentine foreign exchange market (“MULC”) and converted into Argentine pesos within 60 days (if made to related parties) or 180 days (if made to unrelated parties) from shipment date, or, if collected earlier, within 20 business days of collection. Foreign currency proceeds from exports of services must be sold into the MULC and converted into Argentine pesos within 20 business days of collection.</span> </p> </td> </tr> <tr style="height: 34px;"> <td style="box-shadow: none; height: 34px; text-align: center; padding: 0px 0px 7px; vertical-align: top; width: 3%;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="box-shadow: none; height: 34px; text-align: justify; padding: 0px 0px 7px; vertical-align: top; width: 97%;" valign="top"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Access to the MULC to pay for imports of services is permitted as from the date of supply or accrual of the service (if the service was rendered by a non-related party) or is deferred for 90 calendar days as from the date of supply or accrual of the service (if rendered by a related party).</span></p> </td> </tr> <tr style="height: 17px;"> <td style="box-shadow: none; height: 17px; text-align: center; padding: 0px 0px 7px; vertical-align: top; width: 3%;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="box-shadow: none; height: 17px; text-align: justify; padding: 0px 0px 7px; vertical-align: top; width: 97%;" valign="top"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Access to the MULC to pay for imports of goods is permitted as from the date of customs clearance.</span></p> </td> </tr> <tr style="height: 17px;"> <td style="box-shadow: none; height: 17px; text-align: center; padding: 0px 0px 7px; vertical-align: top; width: 3%;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="box-shadow: none; height: 17px; text-align: justify; padding: 0px 0px 7px; vertical-align: top; width: 97%;" valign="top"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Access to the MULC to pay imports of capital assets is permitted according to the following schedule: up to 30% in advance; up to 50% against shipment; and the balance against customs clearance.</span></p> </td> </tr> <tr style="height: 10px;"> <td style="box-shadow: none; height: 10px; text-align: center; padding: 0px; vertical-align: top; margin: 0px; text-indent: 0px; width: 3%;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="box-shadow: none; height: 10px; text-align: justify; padding: 0px; vertical-align: top; margin: 0px; text-indent: 0px; width: 97%;" valign="top"> <p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Access to the MULC to pay dividends will be permitted for distributable earnings corresponding to full fiscal years commencing after January 1, 2025. Access to the MULC to pay dividends for accumulated earnings relating to prior years remains subject to the approval of the Argentine Central Bank.</span></p> </td> </tr> </tbody> </table> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Access to foreign currency and transfers out of Argentina to make payments that remain restricted can be achieved through securities transactions involving securities listed both in Argentina and in other markets, resulting in a different implicit exchange rate, generally higher than the official exchange rate. Pursuing any such transactions by Argentine companies and, in certain cases, its shareholders and affiliates, result in temporary restrictions for the Argentine company to access the MULC. It is still unclear if or when the Argentine authorities will eliminate or loosen the remaining restrictions.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Since April 14, 2025, the Argentine government established a trading band allowing the Argentine peso to float between 1,000 and 1,400 against the U.S. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ollar. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As from January 2026, the lower and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">upper level</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of the band </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">will be adjusted every month the Consumer Price Index for the second preceding month</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (before January 2026, it was adjusted by 1% per month)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. In addition, the Argentine Central Bank is allowed to sell foreign currency when the market price hits the upper level and is allowed to purchase foreign curre</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ncy (to increase its foreign reserves) within the band and below its lower level</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, subject to market liquidity and aligned with money demand.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The official exchange rate </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the Argentine peso </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">as of December 31, 2025</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> was 1,455</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> per U.S. dollar</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris’s financial position in Argentine pesos as of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, 2025, amounted to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a net </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">short</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> exposure of approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">8.8</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, while Argentine subsidiaries held </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">U.S. dollar-denominated Argentine bonds for an aggregated value of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">204.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million. In </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> event of an additional devaluation these companies will suffer a loss on deferred tax charge as a result of a deterioration on the tax value of their fixed assets. At this time, the Company is unable to estimate all impacts of a further devaluation of the Argentine peso against the U.S. dollar.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, 2025, the total equity of Argentine subsidiaries represented approximately </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">13%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of Tenaris’s total equity and the sales made by Argentine subsidiaries during the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ended </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, 2025, amounted approximately to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">17%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of Tenaris’s total sales. Assets and liabilities denominated in Argentine peso as of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, 2025, are valued at the prevailing official exchange rate.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"> <br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">This context of volatility and uncertainty remains in place as of the issue date of these Consolidated Financial Statements. Management continues to monitor closely the evolution of the main variables affecting its business, identifying the potential impact thereof on its financial and economic situation and determining the appropriate course of action in each case. These Consolidated Financial Statements should be read taking into account these circumstances.</span></p> 1455 -8800000 204400000 0.13 0.17 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">30</span></span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Cash flow disclosures</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <div style="border-left: none; border-right: none;"> <div id="fs_XFKYR238DC00000000000000000000B"> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="height: 309px; border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_JAKEDD7H4G00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_H7XISZRS3K00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_C7D1VKAU2O00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (i) </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Changes in working capital </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 151,728 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 184,996 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 186,903 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables and prepayments, contract assets and current tax assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (31,509 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (60,456 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 64,000 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Trade receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25,079 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 550,334 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 153,920 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (20,753 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (100,133 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 28,275 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Customer advances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (41,454 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (71,100 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (101,646 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 5%; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 60%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Trade payables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (35,319 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (216,724 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (149,024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 47,772 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 286,917 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 182,428 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (ii) </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income tax accruals less payments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tax accrued </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 500,616 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 479,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 674,956 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Taxes paid </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (531,837 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (702,190 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (818,347 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (31,221 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (222,510 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-weight: bold; font-family: 'Frutiger 45 Light';"> (143,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';"><span style="font-weight: bold;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (iii) </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Interest accruals less payments, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest accrued, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (205,305 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (181,107 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (106,612 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest received </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 226,160 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 240,809 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 147,473 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest paid </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (24,759 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (60,769 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (94,341 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,904 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (1,067 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="font-family: 'Frutiger 45 Light'; line-height: inherit; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: right;"><span style="font-size: 10pt; font-weight: bold; font-family: 'Frutiger 45 Light';"> (53,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <table style="height: 17px; width: 100%; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 17px;"> <td style="height: 17px; width: 2%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="height: 17px; width: 98%; box-shadow: none;"> <p style="margin: 0pt; line-height: 1.2; text-align: justify;"><span style="font-size: 9pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes in working capital </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">do</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> not include non-cash movements due to the variations in the exchange rates used by subsidiaries with functional currencies different from the U.S. dollar.</span></span></p> </td> </tr> </tbody> </table> </div> </div> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="height: 309px; border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 10px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_JAKEDD7H4G00000000000000000000fs">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_H7XISZRS3K00000000000000000000fs">2024</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span id="fs_C7D1VKAU2O00000000000000000000fs">2023</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (i) </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-size: 10pt;"><span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">Changes in working capital </span><span style="font-size: 8pt;">^{<span style="font-family: 'Frutiger 45 Light'; font-weight: bold; line-height: inherit;">(*)</span>}</span></span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 10px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Inventories </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 151,728 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 184,996 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 186,903 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables and prepayments, contract assets and current tax assets </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (31,509 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (60,456 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 64,000 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Trade receivables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25,079 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 550,334 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 153,920 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Other liabilities </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (20,753 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (100,133 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 28,275 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Customer advances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (41,454 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (71,100 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (101,646 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 5%; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; width: 60%; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Trade payables </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (35,319 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (216,724 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'Frutiger 45 Light';"> (149,024 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; width: 1%; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 47,772 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 286,917 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> 182,428 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (ii) </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Income tax accruals less payments </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tax accrued </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 500,616 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 479,680 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 674,956 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Taxes paid </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (531,837 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (702,190 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (818,347 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; font-family: 'Frutiger 45 Light';">)</td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (31,221 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (222,510 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-weight: bold; font-family: 'Frutiger 45 Light';"> (143,391 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';"><span style="font-weight: bold;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (iii) </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Interest accruals less payments, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest accrued, net </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (205,305 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (181,107 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (106,612 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest received </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 226,160 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 240,809 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 147,473 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Interest paid </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (24,759 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (60,769 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; font-family: 'Frutiger 45 Light';">)</td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (94,341 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;">)</td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt; text-align: right;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (3,904 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;"> (1,067 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important; font-family: 'Frutiger 45 Light';"><span style="font-weight: bold;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;"><br/></span></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="font-family: 'Frutiger 45 Light'; line-height: inherit; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: right;"><span style="font-size: 10pt; font-weight: bold; font-family: 'Frutiger 45 Light';"> (53,480 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"><span style="font-weight: bold;">)</span></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 12pt; line-height: inherit;"> </span></p> <table style="height: 17px; width: 100%; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 17px;"> <td style="height: 17px; width: 2%; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="height: 17px; width: 98%; box-shadow: none;"> <p style="margin: 0pt; line-height: 1.2; text-align: justify;"><span style="font-size: 9pt;"><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">Changes in working capital </span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;">do</span><span style="font-family: 'Frutiger 45 Light'; line-height: inherit;"> not include non-cash movements due to the variations in the exchange rates used by subsidiaries with functional currencies different from the U.S. dollar.</span></span></p> </td> </tr> </tbody> </table> 151728000 184996000 186903000 -31509000 -60456000 64000000 25079000 550334000 153920000 -20753000 -100133000 28275000 -41454000 -71100000 -101646000 -35319000 -216724000 -149024000 -47772000 -286917000 -182428000 500616000 479680000 674956000 531837000 702190000 818347000 -31221000 -222510000 -143391000 205305000 181107000 106612000 226160000 240809000 147473000 24759000 60769000 94341000 3904000 1067000 53480000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">31</span><span style="font-size: 8pt;">        </span></span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Related party transactions</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">              </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_RQK91U5LYO00000000000000000000fs">1</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_TQ8NQ4UWV400000000000000000000fs">2025</span>:</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-right: none; border-left: none;"> <table style="width: 100%; margin-left: 0.1px; height: 68px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; text-align: center; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="height: 17px; vertical-align: top; padding: 1px 1px 10px; box-shadow: none;" valign="top"> <p style="text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> San Faustin, a Luxembourg société anonyme, owned 708,945,896 shares in the Company, representing 66.13%  of the Company’s issued shares and 70.07% of the voting rights.  </span></p> </td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; text-align: center; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="height: 17px; vertical-align: top; padding: 1px 1px 10px; box-shadow: none;" valign="top"> <p style="line-height: 1.2; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> San Faustin owned all of its shares in the Company through its wholly owned subsidiary Techint Holdings S.à.r.l., a Luxembourg société à responsabilité limitée (“Techint”), who is the holder of record of the above-mentioned shares. </span></p> </td> </tr> <tr style="height: 17px;"> <td style="height: 17px; width: 3%; vertical-align: top; text-align: center; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="height: 17px; width: 97%; vertical-align: top; padding: 1px 1px 10px; box-shadow: none;" valign="top"> <p style="line-height: 1.2; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Rocca &amp; Partners Stichting Administratiekantoor Aandelen San Faustin, a private foundation located in the Netherlands (Stichting) (“RP STAK”) held voting rights in San Faustin sufficient in number to control San Faustin.</span></p> </td> </tr> <tr style="height: 17px;"> <td style="height: 17px; vertical-align: top; text-align: center; box-shadow: none;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">•</span></td> <td style="height: 17px; vertical-align: top; padding: 1px 1px 10px; box-shadow: none;" valign="top"> <p><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> No person or group of persons controls RP STAK. </span></p> </td> </tr> </tbody> </table> </div> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On September 19, 2025, the Company announced that San Faustin and Techint had filed with the SEC an amendment to their Schedule <span style="border-left: none; border-right: none;">13</span>D, reporting that, for portfolio-management purposes and in response to the Company’s ongoing share repurchase program discussed below, which caused San Faustin’s beneficial ownership interest in the Company to passively increase, on September 17, 2025, the board of directors of San Faustin had authorized Techint to sell a number of its ordinary shares of the Company, provided that Techint’s ownership stake in the Company should not fall below 67% of the Company’s total outstanding ordinary shares. The reporting persons stated that the precise timing, amount and manner of any such sales will depend upon market conditions and other factors, and that there is no assurance that any sales will be completed or the timing thereof. The reporting persons also noted that, although they do not currently intend to purchase ordinary shares or to reduce their beneficial ownership below 67% of the Company’s total outstanding ordinary shares, they may from time to time, depending on market conditions and other factors, purchase or sell additional ordinary shares, and that, except as described above, they do not have any present plans or proposals that relate to or would result in any extraordinary corporate transaction or lead to the acquisition of additional securities. </span></p> <br/> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 17, 2025,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the Company announced that</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">San Faustin and Techint had filed with the SEC a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> new </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">amendment to their Schedule <span style="border-left: none; border-right: none;">13</span>D</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">reporting that, further to the previously-reported</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">authorization</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(i) between</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 9, 2025</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 12, 2025,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Techint sold a total of 2,600,000</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ordinary shares pursuant to a non-discretionary sales mandate established with a European broker-dealer regulated in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">European Union</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">that ended on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 12, 2025; and (ii) on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 12, 2025,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Techint entered into a non-discretionary accelerated share disposal agreement with an European financial institution regulated in the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">European Union</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">for the sale of up to 21,000,000 ordinary shares of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">during the period starting on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 15, 2025</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and ending no later than</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">May 19, 2026</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(the “ASD Program”). </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">San Faustin and Techint </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">stated, among other things, that under the ASD Program the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ank will make all trading decisions concerning the timing of the sales of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ordinary shares </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">all sales under the ASD Program will be conducted in European regulated stock markets, and that the ASD Program will be executed in compliance with applicable rules and regulations. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">San Faustin and Techint</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> noted that, following completion of the ASD Program, the</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">y </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">may from time to time, depending on market conditions and other factors, sell additional ordinary shares </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">of the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in accordance with the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">above-mentioned s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ales </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">uthorization. </span></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><br/></p> <div> <div style="border-right: none; border-left: none;"> </div> </div> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Between </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 9, 2025</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">and</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> December 31,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">2025</span>, Techint sold </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">4,819,291</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ordinary shares of</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, out of which </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">4,659,291</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> were settled as of December 31, 2025.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Based on the information most recently available to the Company, Tenaris’s directors and senior management as a group owned </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.08%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of the Company’s share capital and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.09%</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> of the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">voting rights.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Transactions and balances disclosed as with “associated companies” are those with companies over which Tenaris exerts significant influence in accordance with </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">IFRS but</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> does not have control. Transactions and balances disclosed as with “joint ventures” are those with companies over which Tenaris exerts joint control in accordance with </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">IFRS but</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> does not have control. All other transactions and balances with related parties that are not non-consolidated </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">companies</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> are disclosed as “other related parties”.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;">The following transactions were carried out with related parties:</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-right: none; border-left: none;"> <div id="fs_BMWUJ591V400000000000000000000B"> <div style="border-right: none; border-left: none;"> <table cellpadding="0" cellspacing="0" style="height: 391px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 17px;vertical-align: bottom;width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 17px;vertical-align: bottom;width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;margin: 0px;text-indent: 0px;width: 34.4928%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;margin: 0px;text-indent: 0px;width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #ffffff;"> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 17px;vertical-align: bottom;width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (i) </span></p> </td> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 17px;vertical-align: bottom;width: 59.8551%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Transactions </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2023</span> </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 4.92754%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 59.8551%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (a) Sales of goods, services and other transactions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.01449%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.01449%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.44928%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.01449%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.01449%; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of goods to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,373 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37,551 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 56,152 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of goods to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 117,918 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 83,250 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 121,679 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of services and others to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,208 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,456 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of services and others to joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 144 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 139 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 135 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of services and others to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 127,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 127,940 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 109,553 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 267,518 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 252,336 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 289,083 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (b) Purchases of goods, services and other transactions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of goods to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 183,968 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 154,772 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 324,556 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of goods to joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 67,382 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 23,466 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 72,741 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of goods to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 30,037 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 70,425 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,366 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of services and others to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,676 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,544 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13,349 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of services and others to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 50,081 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 55,576 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 76,751 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 348,144 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 321,783 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 548,763 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (c) Financial Results </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income from joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,924 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,218 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,645 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 5,924 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 6,218 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 5,645 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (d) Dividends </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Dividends received from associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 62,022 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 71,211 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 69,216 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Dividends distributed to Techint Holdings S.àr.l. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 606,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 478,115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 385,347 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-right: none; border-left: none;"> <table cellpadding="0" cellspacing="0" style="height: 238px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 21.8775%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.22449%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (ii) </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Period-end balances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 4.97959%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (a) Arising from sales / purchases of goods / services and other transactions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 9.95918%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 0.979592%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 0.979592%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 9.95918%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 1.22449%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables from associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,641 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,133 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables from joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 69,447 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 68,759 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables from other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 45,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 47,713 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Payables to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (22,214 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (23,531 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Payables to joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,892 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (52 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Payables to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,196 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (12,165 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 82,262 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 83,857 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (b) Financial debt </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Finance lease liabilities from associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (857 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,026 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Finance lease liabilities from other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,589 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (260 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (2,446 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (1,286 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> </tbody> </table> </div> </div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In addition to the tables above, the Company issued various guarantees in favor of Techgen; for further details, please see note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">14</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (c)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and note </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">27</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(ii)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to these Consolidated Financial Statemen</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">t</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. No other material guarantees were issued in favor of other related parties.</span> </p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Directors</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> and senior management compensation</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="margin: 0pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During the years ended December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span style="border-left: none; border-right: none;">20</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">2</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the cash compensation of Directors and Senior managers amounted to $44.7</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">million, $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">33.4</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">47.5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million respectively. These amounts include cash benefits paid to certain senior managers in connection with the pre-existing retirement plans. In addition, Directors and Senior managers received </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">408</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">448</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">388</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> thousand units for a total amount of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">6.7</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million, $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">6.9</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">5.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million respectively in connection with the Employee retention and long</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">term incentive program mentioned in note II.P.<span id="fs_2JO0LPZNHS00000000000000000000fs">3</span> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">“</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Employee benefits – </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">Other long</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">-</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">term benefits</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; line-height: inherit;">”</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> to these Consolidated Financial Statements.</span></p> 708945896 0.6613 0.7007 0.67 0.67 2600000 21000000 4819291 4659291 0.0008 0.0009 <div style="border-right: none; border-left: none;"> <table cellpadding="0" cellspacing="0" style="height: 391px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 17px;vertical-align: bottom;width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 17px;vertical-align: bottom;width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="7" style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;margin: 0px;text-indent: 0px;width: 34.4928%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;margin: 0px;text-indent: 0px;width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #ffffff;"> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 17px;vertical-align: bottom;width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (i) </span></p> </td> <td style="padding-left: 5.4pt;padding-right: 5.4pt;box-shadow: none;height: 17px;vertical-align: bottom;width: 59.8551%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Transactions </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2023</span> </span></p> </td> <td style="padding-left: 0px;padding-right: 0px;box-shadow: none;height: 17px;vertical-align: bottom;border-top-width: 1px;border-top-style: solid;border-bottom-width: 1px;border-bottom-style: solid;margin: 0px;text-indent: 0px;border-top-color: #000000 !important;border-bottom-color: #000000 !important;width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 4.92754%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 59.8551%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (a) Sales of goods, services and other transactions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.01449%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.01449%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.44928%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.01449%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.01449%; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of goods to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,373 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 37,551 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 56,152 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of goods to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 117,918 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 83,250 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 121,679 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of services and others to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,208 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,456 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of services and others to joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 144 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 139 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 135 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Sales of services and others to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 127,875 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 127,940 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 109,553 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 267,518 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 252,336 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 289,083 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (b) Purchases of goods, services and other transactions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of goods to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 183,968 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 154,772 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 324,556 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of goods to joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 67,382 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 23,466 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 72,741 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of goods to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 30,037 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 70,425 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 61,366 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of services and others to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 16,676 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 17,544 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 13,349 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Purchases of services and others to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 50,081 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 55,576 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 76,751 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 348,144 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 321,783 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 548,763 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (c) Financial Results </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Income from joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,924 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 6,218 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 5,645 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 5,924 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 6,218 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 5,645 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (d) Dividends </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Dividends received from associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 62,022 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 71,211 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 69,216 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 4.92754%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 59.8551%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Dividends distributed to Techint Holdings S.àr.l. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 606,564 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 478,115 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.44928%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 1.01449%;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom; width: 10%;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 385,347 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.01449%;" valign="bottom"><br/></td> </tr> </tbody> </table> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-right: none; border-left: none;"> <table cellpadding="0" cellspacing="0" style="height: 238px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 21.8775%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 1.22449%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (ii) </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Period-end balances </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 4.97959%; vertical-align: bottom; background-color: #cceeff;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (a) Arising from sales / purchases of goods / services and other transactions </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 9.95918%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 0.979592%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 0.979592%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 9.95918%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; width: 1.22449%; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables from associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,641 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,133 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables from joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 69,447 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 68,759 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Receivables from other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 45,476 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 47,713 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Payables to associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (22,214 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (23,531 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Payables to joint ventures </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (6,892 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (52 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Payables to other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (8,196 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (12,165 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 82,262 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 83,857 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (b) Financial debt </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Finance lease liabilities from associated companies </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (857 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,026 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; background-color: #cceeff; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Finance lease liabilities from other related parties </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (1,589 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 0.979592%; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 9.95918%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (260 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; width: 1.22449%; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom; width: 4.97959%;" valign="bottom"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 71.7551%; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (2,446 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 0.979592%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><br/></td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 9.95918%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> (1,286 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; width: 1.22449%; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important; vertical-align: bottom;" valign="bottom"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td> </tr> </tbody> </table> </div> 16373000 37551000 56152000 117918000 83250000 121679000 5208000 3456000 1564000 144000 139000 135000 127875000 127940000 109553000 267518000 252336000 289083000 183968000 154772000 324556000 67382000 23466000 72741000 30037000 70425000 61366000 16676000 17544000 13349000 50081000 55576000 76751000 348144000 321783000 548763000 5924000 6218000 5645000 5924000 6218000 5645000 62022000 71211000 69216000 606564000 478115000 385347000 4641000 3133000 69447000 68759000 45476000 47713000 22214000 23531000 6892000 52000 8196000 12165000 82262000 83857000 -857000 -1026000 -1589000 -260000 -2446000 -1286000 44700000 33400000 47500000 408000 448000 388000 6700000 6900000 5600000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-style: normal; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">32</span></span><span style="font-style: normal; line-height: inherit;"><span>        </span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">Independent</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;"> auditor</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">f</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">ees</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Total fees accrued for professional services rendered </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to Tenaris S.A. and its subsidiaries </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">by PricewaterhouseCoopers</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Assurance</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Société </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">C</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">oopérative</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(“PwC”) and Forvis Mazars S.A. (“FM”) for the year <span style="border-left: none; border-right: none;">2025</span>, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">by</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Ernst &amp; Young S.A. (“EY”) for the year <span style="border-left: none; border-right: none;">2024</span> and by PwC </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">for the year <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">3</span></span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">are detailed as follows:</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <div id="t_ft_GF3OVLOAXC00000000000000000000b"> <table cellpadding="0" cellspacing="0" style="font-family: 'Frutiger 45 Light';font-size: 10pt;height: 136px;border-collapse: collapse;margin: 0px;width: 100%;text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="10" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> PwC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> FM </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> EY </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> PwC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px; background-color: #cceeff; width: 53%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Audit fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,879 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,497 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,569 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,386 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Audit-related fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 255 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 51 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tax fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 18 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_M47K8MOUWG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 78 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 148 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> All other fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WQT8RE2HOG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WC2A338ZN400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,154 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,522 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,698 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,821 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In addition,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in the year <span style="border-left: none; border-right: none;">2023</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> PwC rendered $242 thousand for tax services </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Mattr’s pipe coating business unit</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <table cellpadding="0" cellspacing="0" style="font-family: 'Frutiger 45 Light';font-size: 10pt;height: 136px;border-collapse: collapse;margin: 0px;width: 100%;text-indent: 0px;" width="100%"> <tbody> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td colspan="10" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Year ended December 31, </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">   </span></p> </td> <td colspan="4" style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2023</span> </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: top; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">   </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> PwC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> FM </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> EY </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> PwC </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; height: 17px; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; margin: 0px; text-indent: 0px; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px; background-color: #cceeff; width: 53%;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Audit fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3,879 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 1,497 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,569 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 10%;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 4,386 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Audit-related fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 255 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 25 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 51 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 273 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Tax fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 18 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_M47K8MOUWG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 78 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 148 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td> </tr> <tr style="height: 17px;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> All other fees </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WQT8RE2HOG00000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_WC2A338ZN400000000000000000000fs"> - </span></span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 14 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px;"><br/></td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; box-shadow: none; height: 17px; background-color: #cceeff;"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> Total </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,154 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 1,522 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,698 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"> <p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> 4,821 </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; box-shadow: none; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-top-width: 1px; border-top-style: solid; border-bottom-width: 1px; border-bottom-style: solid; border-top-color: #000000 !important; border-bottom-color: #000000 !important;"><br/></td> </tr> </tbody> </table> 3879000 1497000 4569000 4386000 255000 25000 51000 273000 18000 78000 148000 2000 14000 4154000 1522000 4698000 4821000 242000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-style: normal; font-weight: bold; line-height: inherit;"><span style="border-left: none; border-right: none;">33        </span> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; color: #003366; font-weight: bold; line-height: inherit;">Principal subsidiaries</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; margin: 0pt; line-height: 1.2;"><br/></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The following is a list of Tenaris’s principal subsidiaries and its direct and indirect percentage of ownership of each controlled company at December 31, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">5</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and <span style="border-left: none; border-right: none;">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-left: none; border-right: none;"> <div style="border-right: none; border-left: none;"> <div style="border-left: none; border-right: none;"> <div style="border-right: none; border-left: none;"> <div style="border-left: none; border-right: none;"> <div id="fs_PSMEOAAI2O00000000000000000000B"> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0pt; height: 441px; width: 100%;" width="100%"> <tbody> <tr style="height: 23px;"> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 40px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;">Company </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 40px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Country of Incorporation </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 40px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Main activity </span></p> </td> <td colspan="3" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 23px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;">Percentage of ownership at December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 7pt; font-weight: bold; vertical-align: super; line-height: inherit;">(*)</span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2023</span> </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 37%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> ALGOMA TUBES INC. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 12%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Canada </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 27%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded and seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 8%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 8%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 8%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> CONFAB INDUSTRIAL S.A. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Brazil </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> DALMINE S.p.A. and subsidiaries (a) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Italy </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> EXIROS B.V. and subsidiaries (b) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Netherlands </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Procurement and trading services </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 50% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 50% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 50% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> HYDRIL COMPANY </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing and marketing of premium connections </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> MAVERICK TUBE CORPORATION and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded and seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> OILFIELD SERVICES SOCIEDAD ANONIMA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Argentina </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Hydraulic fracturing and coiled tubing services </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> P.T. SEAMLESS PIPE INDONESIA JAYA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Indonesia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel products </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 89% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 89% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 89% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> SILCOTUB S.A. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Romania </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> SAUDI STEEL PIPE CO. and subsidiaries (c) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Saudi Arabia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 48% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 48% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 48% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> SIAT SOCIEDAD ANONIMA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Argentina </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries (d) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Argentina </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Portugal </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Holding company </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS BAY CITY, INC. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded and seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS CONNECTIONS BV </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Netherlands </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Development, management and licensing of intellectual property </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES (CANADA) INC. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Canada </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Marketing of steel products </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Marketing of steel products </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES (UK) LTD </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> United Kingdom </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Holding company and marketing of steel products </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES S.A. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Uruguay </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Marketing, distribution of steel products and holding company </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS INVESTMENTS (NL) B.V. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Netherlands </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Holding company </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES and INVESTMENTS S.àr.l. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Luxembourg </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Marketing and distribution of steel products, financial operations and holding company </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS QINGDAO STEEL PIPES LTD. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> China </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Processing of premium joints, couplings and automotive components </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS TUBOCARIBE LTDA. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Colombia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded and seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TUBOS DE ACERO DE MEXICO, S.A. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Mexico </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-right: none; border-left: none;"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 14px;"> <tbody> <tr style="height: 14px;"> <td style="width: 2%; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; height: 14px;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">All percentages rounded.</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;">Tenaris holds 40% of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., 49% of Tubulars Finishing Nigeria Limited and 60% of Tenaris Baogang Baotou Steel Pipes Ltd. Until its deconsolidation in June 2025, Tenaris held 49% of Amaja Tubular Services Limited.</span></p> <div style="border-right: none; border-left: none;"> <table style="width: 100%; margin-left: 0.1px; height: 68px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 17px;"> <td style="height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</span></td> <td style="height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 9pt; line-height: inherit;">Dalmine<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> S.p.A holds 57% of </span>Immobiliare Cultura Industriale<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> S.R.L.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(b)</span></td> <td style="height: 17px; box-shadow: none; text-align: justify; vertical-align: top;" valign="top"><span style="font-size: 9pt; line-height: inherit;">Tenaris<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> holds 50% of the voting rights and </span>Ternium<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> owns the remaining 50%. </span>Exiros<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> provides purchase agency services and raw materials and other products to various companies controlled by or under the significant influence of San </span>Faustin<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">. Pursuant to the </span>Exiros<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> shareholders’ agreement, </span>Tenaris<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> recognizes </span>Exiros<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">’ assets, liabilities, revenue and expenses in relation to its interest in the joint operation.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(c)</span></td> <td style="height: 17px; box-shadow: none; text-align: justify; vertical-align: top;" valign="top"><span style="font-size: 9pt; line-height: inherit; text-indent: 0px;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Saudi Steel Pipe Company is a public company listed in the Saudi Arabian Stock Exchange (Tad</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;">ā</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">wul), Tenaris holds 47.79% and has the right to nominate the majority of the members of the board of directors, therefore Tenaris has control over SSPC. Since </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">May</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> 2023, Saudi Steel Pipe Co. holds 57.3% of Global Pipe Company, therefore Tenaris has control over GPC.</span></span></td> </tr> <tr style="height: 17px;"> <td style="width: 2%; height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(d)</span></td> <td style="width: 98%; height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 9pt; line-height: inherit;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Until its liquidation in April 2023 Siderca held 51% of NKKTubes</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> </tbody> </table> </div> </div> </div> </div> </div> </div> </div> <div style="border-left: none; border-right: none;"> <table cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: 0pt; height: 441px; width: 100%;" width="100%"> <tbody> <tr style="height: 23px;"> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 40px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;">Company </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 40px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Country of Incorporation </span></p> </td> <td rowspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 40px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> Main activity </span></p> </td> <td colspan="3" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 23px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;">Percentage of ownership at December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 7pt; font-weight: bold; vertical-align: super; line-height: inherit;">(*)</span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2025</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2024</span> </span></p> </td> <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; box-shadow: none; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000 !important;"> <p style="margin: 0pt; text-align: center;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; font-weight: bold; line-height: inherit;"> <span style="border-left: none; border-right: none;">2023</span> </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; width: 37%; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> ALGOMA TUBES INC. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 12%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Canada </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 27%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded and seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 8%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 8%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; width: 8%; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> CONFAB INDUSTRIAL S.A. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Brazil </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> DALMINE S.p.A. and subsidiaries (a) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Italy </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> EXIROS B.V. and subsidiaries (b) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Netherlands </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Procurement and trading services </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 50% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 50% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 50% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> HYDRIL COMPANY </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing and marketing of premium connections </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> MAVERICK TUBE CORPORATION and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded and seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> OILFIELD SERVICES SOCIEDAD ANONIMA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Argentina </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Hydraulic fracturing and coiled tubing services </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> P.T. SEAMLESS PIPE INDONESIA JAYA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Indonesia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel products </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 89% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 89% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 89% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> SILCOTUB S.A. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Romania </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> SAUDI STEEL PIPE CO. and subsidiaries (c) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Saudi Arabia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 48% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 48% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 48% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> SIAT SOCIEDAD ANONIMA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Argentina </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL and subsidiaries (d) </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Argentina </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TALTA - TRADING E MARKETING SOCIEDADE UNIPESSOAL LDA. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Portugal </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Holding company </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS BAY CITY, INC. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded and seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS CONNECTIONS BV </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Netherlands </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Development, management and licensing of intellectual property </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES (CANADA) INC. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Canada </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Marketing of steel products </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES (U.S.A.) CORPORATION </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> USA </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Marketing of steel products </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES (UK) LTD </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> United Kingdom </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Holding company and marketing of steel products </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES S.A. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Uruguay </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Marketing, distribution of steel products and holding company </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS INVESTMENTS (NL) B.V. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Netherlands </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Holding company </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 10px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS GLOBAL SERVICES and INVESTMENTS S.àr.l. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Luxembourg </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Marketing and distribution of steel products, financial operations and holding company </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS QINGDAO STEEL PIPES LTD. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> China </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Processing of premium joints, couplings and automotive components </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px; background-color: #cceeff;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TENARIS TUBOCARIBE LTDA. </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Colombia </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of welded and seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> <tr style="height: 17px;"> <td style="padding-left: 5.4pt; padding-right: 5.4pt; box-shadow: none; height: 17px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> TUBOS DE ACERO DE MEXICO, S.A. and subsidiaries </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Mexico </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> Manufacturing of seamless steel pipes </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> <td style="padding-left: 0px; padding-right: 0px; box-shadow: none; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"> <p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Frutiger 45 Light'; font-size: 8pt; line-height: inherit;"> 100% </span></p> </td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div style="border-right: none; border-left: none;"> <table style="width: 100%; margin-left: 0.1px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 14px;"> <tbody> <tr style="height: 14px;"> <td style="width: 2%; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; height: 14px;"><span style="font-size: 8pt;">^{<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</span>}</span></td> <td style="width: 98%; box-shadow: none; border-top-width: 1px; border-top-style: solid; border-top-color: #000000 !important; height: 14px;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">All percentages rounded.</span></td> </tr> </tbody> </table> </div> <p style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="font-family: 'times new roman', times; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 9pt; line-height: inherit;">Tenaris holds 40% of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., 49% of Tubulars Finishing Nigeria Limited and 60% of Tenaris Baogang Baotou Steel Pipes Ltd. Until its deconsolidation in June 2025, Tenaris held 49% of Amaja Tubular Services Limited.</span></p> <div style="border-right: none; border-left: none;"> <table style="width: 100%; margin-left: 0.1px; height: 68px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 17px;"> <td style="height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</span></td> <td style="height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 9pt; line-height: inherit;">Dalmine<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> S.p.A holds 57% of </span>Immobiliare Cultura Industriale<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> S.R.L.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(b)</span></td> <td style="height: 17px; box-shadow: none; text-align: justify; vertical-align: top;" valign="top"><span style="font-size: 9pt; line-height: inherit;">Tenaris<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> holds 50% of the voting rights and </span>Ternium<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> owns the remaining 50%. </span>Exiros<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> provides purchase agency services and raw materials and other products to various companies controlled by or under the significant influence of San </span>Faustin<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">. Pursuant to the </span>Exiros<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> shareholders’ agreement, </span>Tenaris<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;"> recognizes </span>Exiros<span style="color: #000000; font-family: 'Frutiger 45 Light'; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">’ assets, liabilities, revenue and expenses in relation to its interest in the joint operation.</span></span></td> </tr> <tr style="height: 17px;"> <td style="height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(c)</span></td> <td style="height: 17px; box-shadow: none; text-align: justify; vertical-align: top;" valign="top"><span style="font-size: 9pt; line-height: inherit; text-indent: 0px;"><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Saudi Steel Pipe Company is a public company listed in the Saudi Arabian Stock Exchange (Tad</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; font-size: 9pt;">ā</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">wul), Tenaris holds 47.79% and has the right to nominate the majority of the members of the board of directors, therefore Tenaris has control over SSPC. Since </span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">May</span><span style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;"> 2023, Saudi Steel Pipe Co. holds 57.3% of Global Pipe Company, therefore Tenaris has control over GPC.</span></span></td> </tr> <tr style="height: 17px;"> <td style="width: 2%; height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(d)</span></td> <td style="width: 98%; height: 17px; box-shadow: none; vertical-align: top;" valign="top"><span style="font-size: 9pt; line-height: inherit;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">Until its liquidation in April 2023 Siderca held 51% of NKKTubes</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Frutiger 45 Light'; line-height: inherit;">.</span></span></td> </tr> </tbody> </table> </div> 1 1 1 1 1 1 1 1 1 0.50 0.50 0.50 1 1 1 1 1 1 1 1 1 0.89 0.89 0.89 1 1 1 0.48 0.48 0.48 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0.40 0.49 0.60 0.49 0.57 0.50 0.50 0.4779 0.573 0.51 <p style="line-height: 12pt; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; letter-spacing: -0.1pt;">34</span><span style="font: 7.0pt 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;">Business combinations</span></p> <p style="line-height: 12pt; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;"> </span></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">Acquisition of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">a </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">scrap processing </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;">business</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold;"> in Beaver Falls</span></h3> <p style="line-height: 12pt; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On November </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">12</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">202</span></span></span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">5</span></span></span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Tenaris completed the acquisition of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a scrap processing </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">business</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> in Beaver Falls</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, Pennsylvania,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">for </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a purchase price of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">17.6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million paid in cash.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">preliminary </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">fair value of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the assets acquired</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, which</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> amounted to approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">16.3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">was </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">allocated to Property, Plant and Equipment</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The preliminary purchase</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> price allocation resulted in a goodwill of approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">1.3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> consolidated the balances and results of operations of the acquired business as from November 12, 2025. Until December 31, 2025, the acquired business’s contribution to Tenaris’s revenues and results was non</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">‑</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">material, and it was assigned to the Tubes segment. Had the transaction been consummated on January 1, 2025, Tenaris’s unaudited pro forma net sales and net income would not have changed materially.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Acquisition-related costs amounted to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million and were included in general and administrative expenses.</span></p> 17600000 16300000 1300000 200000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;">35</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">     </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Share </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">b</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">uyback </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">p</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">rogram</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">s</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">First </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">hare </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">uyback </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">rogram</span></h3> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On November 1, 2023, the Company’s board of directors approved a share buyback program of up to $1.2 billion, to be executed within a year, with the intention to cancel the ordinary shares acquired through the program. The share buyback program was carried out under the authority granted by the annual general meeting of shareholders held on June 2, 2020, up to a maximum of 10% of the Company’s shares.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For purposes of carrying out each tranche of the first share buyback program, the Company entered into non-discretionary buyback agreements with primary financial institutions that made trading decisions concerning the timing of the purchases of the Company’s ordinary shares independently of and uninfluenced by Tenaris and acted in compliance with applicable rules and regulations, including the Market Abuse Regulation <span id="fs_9CLB2K6YO000000000000000000000fs">596</span>/<span id="fs_CXZV8YDGBK00000000000000000000fs">2014</span> and the Commission Delegated Regulation (EU) <span id="fs_GXPYONV97400000000000000000000fs">2016</span>/<span id="fs_YNU0782LXS00000000000000000000fs">1052</span>.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During the first share buyback program, which was divided into four tranches and ran from</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">November 5, 2023, to (and including)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">August 2, 2024, the Company repurchased </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">71,679,768</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ordinary shares, representing 6.07% of the Company’s issued share capital as measured at the beginning of the first program, for a total consideration of approximately $1.2 billion </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">(excluding incidental transaction fees)</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The shares acquired during the first tranche of the first share buyback program were cancelled at the extraordinary shareholders meeting held on April 30, 2024, and the remaining shares acquired during the second, third and fourth tranches of the first share buyback program were cancelled at the extraordinary shareholders meeting held on May 6, 2025, as further described below.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Second </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">hare </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">uyback </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">rogram</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On November 6, 2024, the Company’s board of directors approved a follow-on share buyback program of up to $700 million (excluding incidental transaction fees), subject to a maximum of 46,373,915 ordinary shares, representing the remaining 3.93% of the Company’s issued share capital (measured as of the launch of the first share buyback program), to complete the maximum of 10% of the share capital that could be repurchased by the Company at the time, with the intention to cancel the ordinary shares acquired through the program. The second share buyback program was carried out under the authority granted by the annual general meeting of shareholders held on June 2, 2020, to repurchase up to a maximum of 10% of the Company’s shares.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">For purposes of carrying out the second share buyback program, the Company entered into a non-discretionary buyback agreement with a primary financial institution, which made trading decisions concerning the timing of the purchases of the Company’s shares independently of and uninfluenced by Tenaris and acted in compliance with applicable rules and regulations, including the Market Abuse Regulation <span id="fs_UITY4X8AU800000000000000000000fs">596</span>/<span id="fs_VVXGXR7KM800000000000000000000fs">2014</span> and the Commission Delegated Regulation (EU) <span id="fs_1R9PESACDC00000000000000000000fs">2016</span>/<span id="fs_E2T1A29R9C00000000000000000000fs">1052</span>.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <div> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During the second share buyback program, which ran from November 11, 2024, to (and including) March 4, 2025, the Company repurchased </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">36,862,132</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ordinary shares, representing 3.12% of the Company’s issued shares as measured at the beginning of the first share buyback program, for a total consideration of approximately $700 million (excluding incidental transaction fees).</span><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><br/></span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On May 6, 2025, the extraordinary shareholders meeting approved the cancellation of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">90,762,598</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ordinary shares held in treasury by the Company, which had been acquired during the second, third and fourth tranches of the first share buyback program and second share buyback program, and resolved to approve the corresponding reduction of the issued share capital of the Company and the amendment of the first paragraph of article <span id="fs_1GKE1J1NA800000000000000000000fs">5</span> of the Company’s articles of association. As a result, effective May 6, 2025, the issued share capital of the Company was reduced from $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,162,757,528</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (represented by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,162,757,528</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shares with a par value of $1 per share) to $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,071,994,930</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> (represented by </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,071,994,930</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shares with a par value of $1 per share).</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"> </span></p> <h3 style="line-height: 12pt; margin: 0pt 0pt 0pt 36pt; page-break-after: avoid; text-indent: -36pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Third </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">hare </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">uyback </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">p</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">rogram</span></h3> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company’s ordinary shareholders meeting held on May 6, 2025, renewed the authorization to purchase, acquire or receive, from time to time, Company shares, including shares represented by ADRs, on such terms and conditions as may be approved by the board of directors up to a maximum of 10% of the Company’s shares.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On May 27, 2025, the Company’s board of directors approved a third share buyback program of up to $1.2 billion (excluding incidental transaction fees), to be executed within a year, with the intention to cancel the ordinary shares acquired through the program. The third share buyback program is carried out under the authority granted by the annual general meeting of shareholders held on May 6, 2025, up to a maximum of 10% of the Company’s shares.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The third share buyback program is divided into tranches.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> The first tranche of the program covered up to $600 million (excluding incidental transaction fees) and r</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">a</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">n from June 9, 2025</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">,</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">until</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December 8, 2025, but was completed on September 30, 2025</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Under this tranche the Company acquired a total of 33,059,955 ordinary shares, for approximately $584 million.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Ordinary shares purchased under the third share buyback program are intended to be cancelled in due course. For purposes of carrying out each tranche of the third share buyback program, the Company entered into a non-discretionary buyback agreement with a primary financial institution, which makes trading decisions concerning the timing of the purchases of the Company’s shares independently of and uninfluenced by Tenaris and acts in compliance with applicable rules and regulations, including the Market Abuse Regulation <span id="fs_MJKUKD53YO00000000000000000000fs">596</span>/<span id="fs_3UL32VUU0G00000000000000000000fs">2014</span> and the Commission Delegated Regulation (EU) <span id="fs_89SJGYJNU800000000000000000000fs">2016</span>/<span id="fs_3Z2IP0TKR400000000000000000000fs">1052</span>.</span> </p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The second tranche of the program cover</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> up to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">the remaining </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$600 million (excluding incidental transaction fees) and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">started on</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> November 3, 2025, and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">will </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">end no later than April 30, 2026. Under this tranche</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and until December 31, 2025,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the Company acquired a total of </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">28,271,779 </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ordinary shares, out of which </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">27,111,017</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">were settled and are held as treasury shares for approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">541</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_GQ3SQ5FZXS00000000000000000000fs">2025</span>,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_QN30OS9LSG00000000000000000000fs">202</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_B3KDUT2MDC00000000000000000000fs">4</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Company held a liability in connection to the shares to be settled under the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">share</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> buyback program</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">s</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> that amounted to </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">58.9 million and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">$</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span style="border-left: none; border-right: none;">243.3</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, respectively.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">During the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ended </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_BRKJUMY5KW00000000000000000000fs">1</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_HFU8ZXVRI800000000000000000000fs">2025</span>, the Company purchase</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">12,277,261</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">shares for approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">235</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million under the second share buyback program and </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">60,170,972</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shares for approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,125</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million under the third share buyback program. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Comparatively, during the </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">year</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ended </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">December</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 3</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"><span id="fs_7F9CQE5UHC00000000000000000000fs">1</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, <span id="fs_VX4H2RGFWW00000000000000000000fs">2024</span>, the Company purchase</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">d</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">83,616,548</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> shares for approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1,442</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> million.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">As of December 31, 2025, the Company held </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">in treasury </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">60,170,972</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> ordinary shares repurchased under the third share buyback program. Ordinary shares repurchased under such program are being held in treasury (with their voting rights suspended) and the Company intends to cancel all treasury shares purchased under the third share buyback program in due course.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Further information on the share buyback programs and share repurchases</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> thereunder is available on Tenaris’s corporate website under the Share Buyback Program Section.</span></p> 1200000000 0.10 4 71679768 0.0607 1200000000 700000000 46373915 0.0393 0.10 0.10 36862132 0.0312 700000000 -90762598 1162757528 1162757528 1 1071994930 1071994930 1 0.10 1200000000 0.10 600000000 33059955 584000000 600000000 28271779 27111017 541000000 58900000 243300000 12277261 235000000 60170972 1125000000 83616548 1442000000 60170972 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;">36</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Climate change</span></p> <p style="line-height: 1.2; margin: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; letter-spacing: -0.1pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris continuously assesses the potential impact of climate change and the energy transition on its business and the risks to its markets and its tangible and intangible assets and adapts its business strategy accordingly. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In February 2021, Tenaris introduced a medium-term target to reduce its carbon emissions intensity rate by 30% by 2030, compared to a 2018 baseline, considering Scopes <span id="fs_OB4Z1Y5Z5S00000000000000000000fs">1</span> and <span id="fs_07EF8XOQTC00000000000000000000fs">2</span> emissions plus Scope <span id="fs_NWDVE8X2DC00000000000000000000fs">3</span> emissions related to raw materials and steel purchased from third parties. In February 2025, the baseline for this medium-term target was reset to take into account the expansion of the perimeter of Tenaris operations through the incorporation of various acquisitions since <span id="fs_VCGN5CA2G000000000000000000000fs">2018</span>, the inclusion of emissions from intermill transportation within the target scope, and additions and other changes in raw material emission factors to more accurately represent their use in its operations. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company aims to achieve this target by using a higher proportion of recycled steel scrap in the metallic mix, making investments to increase energy efficiency and the use of renewable energy in its operations, and selective sourcing for raw material and steel purchases. To further these objectives, Tenaris has allocated a substantial proportion of its capital expenditure budget amounting to over $700 million over the past <span id="fs_QFEBNM6HMO00000000000000000000fs">four</span> years to projects that will contribute to reducing the emissions intensity of its operations and their impact on the environment.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These investments have included the construction of <span id="fs_2DPGUDOL7400000000000000000000fs">two</span> wind farms in Argentina, with 103.2 MW and 95 MW respectively, at a cost of over $400 million. These wind farms currently supply the vast majority of the electric energy requirements for our steelmaking and industrial operations in Campana, Argentina. Since October 2025, when we put the second of these wind farms into operation, we have not purchased electric energy from the public grid for our operations in Campana. Other investments includ</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ed</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> the replacement of a steel shop and heat treatment furnaces with modernized facilities to improve energy efficiency, in the modernization of the dust collection system at our US steel shop to reduce particulate emissions and improve on-site air quality, investments in renewable energy supply for our operations in Romania, Italy and China, and in scrap processing and storage facilities to increase scrap usage and availability.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Tenaris encourages the use of sustainable practices among its suppliers and, in March 2023, adopted a Sustainable Sourcing Policy to enhance its efforts in this area. The Sustainability Sourcing Policy will help Tenaris to understand better the real emission levels of its suppliers and identify opportunities for improvement in line with its reduction target.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The medium-term target forms part of a broader objective of decarbonizing the Company’s operations and reaching carbon neutrality when technology and market conditions allow. At the same time, the Company is increasing its sales for low-carbon energy applications, such as hydrogen, geothermal and carbon capture and storage. These sales currently account for a small proportion of overall sales but are expected to grow in the coming years. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">In its assessment of climate change and energy transition potential impact on operations, Tenaris considers that the countries in which it operates and its customers are also establishing their own decarbonization strategies and objectives, and that some customers are requesting specific information from their suppliers, including Tenaris, concerning the carbon emissions and sustainability practices in their supply chain, and that they may adjust their supply practices in light of that information. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The recoverable value assessments performed by the Company for purposes of the preparation of these financial statements reflects management’s views on energy transition and climate change and their potential medium- and long-term impact on Tenaris’s operations and its sales. In addition, the Company carefully monitors the medium- and long-term outlook scenarios published by leading industry experts on how the energy transition could affect global demand for energy and oil and gas and how this could affect the global demand for our tubular products and sales. Furthermore, estimates and assumptions used in the Company’s impairment tests over long-lived assets and goodwill, useful lives of assets, capital and research and development expenditures, inventory valuation, recovery of deferred tax assets and provisions, and contingent liabilities are based on available information and current government regulations on energy transition and climate-related matters, as well as on Tenaris’s current short-term investment plans. As of the date of these financial statements, the Company does not believe that climate-related matters should trigger any material adjustments to the conclusions of its impairment tests or to the valuation of its assets.</span></p> 0.30 2030 2018 700000000 103.2 95 400000000 <p style="line-height: 1.2; margin: 0pt 0pt 0pt 0pt; text-align: justify;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;">37</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Tariff</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">s</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> on </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">s</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">teel</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> and other i</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">mports in the United States</span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;"> and Canada</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Effective March 12, 2025, the U.S. government introduced changes to the tariffs applicable to imported steel products, including those produced and sold by the Company. These changes include the extension of a 25% tariff to all imported steel products through a phased-in implementation plan, initially applying to raw steel products, with downstream (“derivative”) products being subject to the tariff starting June 1, 2025. Exclusions that previously exempted specific products and countries from the existing tariffs were discontinued. </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On June 4, 2025, the U.S. government increased these tariffs to 50% (with the exception of steel imports from the United Kingdom, whose tariffs remain at 25%), and on June 16, 2025, the list of steel derivative products to which the tariffs apply was expanded. The list of steel derivative products was further expanded on August 18, 2025.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;"> </span></p> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On August 2, 2025, the Canadian government applied Section 53 tariff rate quotas on imports of steel products, with tariffs of 50% (additional to normal duty rates) applying to imports of steel products in excess of established quotas. The tariff rate quotas were initially set at 100% of 2024 imports for the group of countries having a free trade agreement with Canada and 50% of 2024 imports for the group of countries without a free trade agreement with Canada. As members of the USMCA trade agreement, these tariffs do not apply to imports from Mexico and the United States, although separately Canada is applying a 25% tariff on imports of steel products from the United States as a retaliatory measure for the U.S. tariffs on steel products. On December 26, 2025, the Canadian government reduced the tariff rate quotas to 75% of 2024 imports for the group of countries having a free trade agreement with Canada and 20% of 2024 imports for the group of countries without a free trade agreement with </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Canada.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> In December 2025, the Canadian government provided an exemption from the tariff for steel bars imported by Tenaris for its seamless pipe operations in Sault Ste</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">.</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> Marie with retroactive effect.</span></p> </div> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">U.S. and Canadian tariffs on steel imports and other tariffs (including those arising under a reciprocal tariff regime implemented by the U.S. government effective August 1, 2025, or under the retaliatory measures enacted by other countries), are affecting market prices and dynamics, supply chains, and cost structures. Changes in some of these tariff rates continue to be made, or threatened, in response to further negotiations with trading partners and/or measures taken, retaliatory or otherwise, by some countries that are deemed hostile acts or against the interests of other countries by the governments of such countries. As a result, a great degree of uncertainty remains in the market.</span></p> Effective March 12, 2025, the U.S. government introduced changes to the tariffs applicable to imported steel products, including those produced and sold by the Company. These changes include the extension of a 25% tariff to all imported steel products through a phased-in implementation plan, initially applying to raw steel products, with downstream (“derivative”) products being subject to the tariff starting June 1, 2025. Exclusions that previously exempted specific products and countries from the existing tariffs were discontinued.   On June 4, 2025, the U.S. government increased these tariffs to 50% (with the exception of steel imports from the United Kingdom, whose tariffs remain at 25%), and on June 16, 2025, the list of steel derivative products to which the tariffs apply was expanded. The list of steel derivative products was further expanded on August 18, 2025. On August 2, 2025, the Canadian government applied Section 53 tariff rate quotas on imports of steel products, with tariffs of 50% (additional to normal duty rates) applying to imports of steel products in excess of established quotas. The tariff rate quotas were initially set at 100% of 2024 imports for the group of countries having a free trade agreement with Canada and 50% of 2024 imports for the group of countries without a free trade agreement with Canada. As members of the USMCA trade agreement, these tariffs do not apply to imports from Mexico and the United States, although separately Canada is applying a 25% tariff on imports of steel products from the United States as a retaliatory measure for the U.S. tariffs on steel products. On December 26, 2025, the Canadian government reduced the tariff rate quotas to 75% of 2024 imports for the group of countries having a free trade agreement with Canada and 20% of 2024 imports for the group of countries without a free trade agreement with Canada. In December 2025, the Canadian government provided an exemption from the tariff for steel bars imported by Tenaris for its seamless pipe operations in Sault Ste. Marie with retroactive effect. <p style="line-height: 1.2; margin: 0pt; text-align: justify; text-indent: 0pt;"><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: normal; font-weight: bold; line-height: inherit;">38</span><span style="font-style: normal; font-variant: normal; font-size-adjust: none; font-language-override: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: inherit; font-family: 'Times New Roman';">        </span><span style="color: #003366; font-family: 'Frutiger 45 Light'; font-size: 10pt; font-weight: bold; line-height: inherit;">Events after the reporting period <span style="font-size: 8pt;">⁹</span></span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="margin: 0pt 0pt 12pt; break-after: avoid; text-indent: 0pt;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; font-style: italic; font-weight: bold; letter-spacing: -0.1pt; line-height: inherit;">Annual Dividend Proposal</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Upon approval of the Company</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">´s annual accounts</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the Board of Directors intends to propose, for the approval of the Annual General Shareholders' meeting to be held on </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">May</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">12,</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, the payment of an annual dividend of $</span><span style="border-right: none; border-left: none;"><span style="border-left: none; border-right: none;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.89</span></span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> per </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">outstanding </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">share ($1.78</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"> per ADS), or approximately <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">$</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">0.9 <span>b</span></span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">illion,</span> which includes the interim dividend of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.29 per </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">outstanding </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">share ($</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.58 per ADS) or approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.3</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">illion, paid on November</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;"> 2</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">5</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. If the annual dividend is approved by the shareholders, a dividend of $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">0.60 per </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">outstanding </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">share ($</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">1.20 per ADS), or approximately $</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt;">0.6</span> <span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">b</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">illion will be paid on May </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">20</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, with </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">r</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">ecord date on May </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">19</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">, 202</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">6</span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">. </span><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">These Consolidated Financial Statements do not reflect this dividend.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-style: italic;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit; font-weight: bold;">Third share buyback program</span></span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The second tranche of the third share buyback program, which covered up to $600 million (excluding incidental transaction fees), ran from November 3, 2025, and was originally scheduled to end no later than April 30, 2026. Under the second tranche of the program, the Company repurchased 29,295,219 ordinary shares, representing 2.73% of the Company's issued shares as measured at the beginning of the second tranche of the program, for an aggregate consideration of approximately $583.6 million (excluding incidental transaction fees), thereby substantially completing its targeted repurchases.</span></p> <table style="height: 10px; width: 20%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;"> <tbody> <tr style="height: 10px;"> <td style="width: 100%; height: 10px; border-bottom: 1pt solid #000000; box-shadow: none;"><br/></td> </tr> </tbody> </table> <span style="font-size: 7pt;">^{<span style="font-size: 8pt; font-family: 'Frutiger 45 Light';">9</span>}</span><span style="font-size: 8pt; font-family: 'Frutiger 45 Light';">This note was updated subsequently to the approval of these Consolidated Financial Statements by the Company’s Board of Directors on February 18, 2026.</span> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">On February 23, 2026, the Company announced its decision to terminate, effective March 3, 2026, the second tranche of the third share buyback program. In a context of high volatility in the market, allowing the second tranche of the program to continue as initially scheduled would, by application of the customary mechanics in the existing buyback agreement, have resulted in a significant incremental pay-out to its counterparty. Accordingly, following the expiration of the blackout period corresponding to the Company’s annual earnings release on February 20, 2026, the Company exercised its right to terminate its existing buyback agreement on the first date it was allowed to do so under the terms of the agreement, and in March 2026, paid the incidental transaction fees.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Ordinary shares repurchased under the third share buyback program are being held in treasury (with their voting rights suspended) and are intended to be cancelled at the extraordinary general meeting of shareholders scheduled to be held on May 12, 2026 (immediately after the next annual general meeting of shareholders) and the Company’s issued share capital will be reduced accordingly.</span></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><br/></p> <p style="line-height: 1.2; margin: 0pt; text-align: justify;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">The Company’s board of directors will consider when to pursue additional share buyback programs in the future.</span></p> <p style="line-height: 1.2; margin: 10pt 0pt; text-align: justify; text-indent: 0pt;"><span style="font-style: italic; font-weight: bold;"><span style="font-family: 'Frutiger 45 Light'; font-size: 10pt; line-height: inherit;">Contingencies, commitments and restrictions on the distribution of profits updates </span></span></p> <p style="margin: 10pt 0pt; text-indent: 0pt; font-family: 'Frutiger 45 Light'; font-size: 10pt; text-align: justify;">Information contained in note 27 “Contingencies, commitments and restrictions on the distribution of profits” was amended reflecting the latest updates on the following case: “U.S. patent infringement litigation”.</p> <p style="margin: 0pt; text-indent: 0pt;"><span style="color: #000000; font-family: 'Frutiger 45 Light'; font-size: 13.3333px; font-style: italic; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Middle East war</span></p> <p style="margin: 0pt; text-indent: 0pt; text-align: justify; font-family: 'Frutiger 45 Light'; font-size: 10pt;"><br/>In March 2026, the armed conflict involving the United States and Israel against Iran, and retaliatory actions by Iran across the broader Middle East, led to a closure of the Hormuz Strait, through which almost 20% of the world’s oil and LNG is shipped, resulting in extreme volatility of energy prices and a disruption to oil and LNG production and transportation in the region. There is uncertainty about the full impact and consequences resulting from the conflict.</p> <p style="margin: 0pt; text-indent: 0pt; text-align: justify; font-family: 'Frutiger 45 Light'; font-size: 10pt;"><br/>Tenaris maintains significant industrial operations and customer relationships in the Middle East. A prolonged conflict or an escalation of hostilities in the region could disrupt Tenaris's operations at these facilities, impair its ability to fulfill customer orders, restrict employee mobility, damage physical infrastructure, and hinder supply of raw materials, semi-finished steel and other inputs to its regional mills.</p> <p style="margin: 0pt; text-indent: 0pt;"><br/></p> <p style="margin: 0pt; text-indent: 0pt; text-align: justify; font-family: 'Frutiger 45 Light'; font-size: 10pt;">The Iran conflict adds to existing supply chain challenges, including trade restrictions from tariffs and supply chain disruptions that have continued since the Russia-Ukraine war. A sustained disruption to the Strait of Hormuz could significantly increase oil prices and fuel broader inflation, slow global economic activity and reduce demand for Tenaris's products. The imposition of additional sanctions targeting Iran-linked maritime networks and the potential for expanded trade restrictions may further constrain sourcing alternatives and increase compliance costs.<br/></p> 0.89 1.78 900000000 0.29 0.58 300000000 0.6 1.2 600000000 600000000 29295219 0.0273 583600000 Number of outstanding shares as of December 31, 2025, 2024 and 2023 were 1,011,823,958, 1,084,272,191 and 1,167,888,739 respectively. Each ADS equals two shares. Changes in working capital do not include non-cash movements due to the variations in the exchange rates used by subsidiaries with functional currencies different from the U.S. dollar for an amount of $(39.4) million for 2025, $30.3 million for 2024 and $(16.7) million for 2023. For the year 2025, related to the acquisition of a scrap processing business in Beaver Falls, Pennsylvania. For more information see note 34. Out of the $75.0 million fixed rate borrowings, $74.6million are short-term. Includes liability related to share buyback program. See note 35 to these Consolidated Financial Statements. Includes liability related to share buyback program. See note 35 to these Consolidated Financial Statements. For the years 2025, 2024 and 2023 includes Investments in non-consolidated companies. See note 14 to these Consolidated Financial Statements. For the year 2024, related to Mattr’s pipe coating business unit acquisition. For the year 2023, related to the GPC, Isoplus anticorrosion coating division and Mattr’s pipe coating business unit acquisitions. For the year2025, related to the deconsolidation of Amaja Tubular Services Limited. For the year 2025, related to the acquisition of a scrap processing business in Beaver Falls, Pennsylvania. For more information see note 34. For the year 2025,related to the deconsolidation of Amaja Tubular Services Limited. For the year 2025, includes the unwinding of certain land plots in Saudi Arabia. For more information see note 28. For the year 2024, related to Mattr’s pipe coating business unit acquisition. Includes Proprietary Technology. For the year 2025, related to the acquisition of a scrap processing business in Beaver Falls, Pennsylvania. For more information see note 34. For the year 2024, related to Mattr’s pipe coating business unit acquisition. For the year 2024, related to Mattr’s pipe coating business unit acquisitions. For the year 2025, includesrepayments of $66.9 million in capital and $4.8 million of interest. As of December 31, 2025, included approximately $68.8 million, related to a receivable from loans granted to Techgen, reclassified from non-current receivables. For more information, see note 14 (c). As of December 31, 2025, included approximately $27 million, related to a receivable corresponding to the refunds from the adjustment of the U.S. antidumping duty rate on Tenaris’s imports from Argentina for the first review period. For more information, see note 27 (ii). For the year 2025, related to the acquisition of a scrap processing business in Beaver Falls, Pennsylvania. For more information see note 34. For the year 2025, related to the acquisition of a scrap processing business in Beaver Falls, Pennsylvania. For more information see note 34. For the year 2024, related to Mattr’s pipe coating business unit acquisition. For the year 2024, related to Mattr’s pipe coating business unit acquisition. For the year 2025, related to the deconsolidation of Amaja Tubular Services Limited. For the year 2024, related to Mattr’s pipe coating business unit acquisitions. For the year 2025a lossof $0.3 million is attributable to demographic assumptions and a loss of $4.8 million to financial assumptions.For the year 2024 a loss of $1.6 million is attributable to demographic assumptions and a loss of $5.9 million to financial assumptions For the year 2024 a loss of $1.6 million is attributable to demographic assumptions and a loss of $5.9 million to financial assumptions In 2025 and 2024, $4.8million and $13.5 million corresponding to planswith surplus balances that werereclassifiedto other receivables-non current respectively, consequently the net post-employment benefits funded exposed as liabilities amounted to $0.9 million and $2.5 million respectively. For the year 2025 a loss of $0.7million is attributable to demographic assumptions and a loss of $0.6million to financial assumptions.For the year2024 a loss of $0.1 million is attributable to demographic assumptions and a loss of $0.1 million to financial assumptions. For the year2024 a loss of $0.1 million is attributable to demographic assumptions and a loss of $0.1 million to financial assumptions. For the year2025, includes mainly pension plan terminations in the United States and Canada.For the year2024, includes mainly pension plan terminations in Canada. For the year2024, includes mainly pension plan terminations in Canada. For the year2025, includes mainly pension plan terminations in the United States and Canada,including cash received from surplus assets in Canada.For the year2024, includes mainly pension plan terminations in Canada. For the year2024, includes mainly pension plan terminations in Canada. For the years 2025 and 2024, includes assets held by insurance companies. For the year 2024, related to Mattr’s pipe coating business unit acquisition. For the year 2024, related to Mattr’s pipe coating business unit acquisition. Other claims and contingencies mainly include lawsuits and other legal proceedings, including employee, tax and environmental-related claims. For the year 2024, related to Mattr’s pipe coating business unit acquisition. All percentages rounded.